As of year 2022, Iraq’s 2P reserves were 748.1 mmboe and gross cum production were28.5 mmboe with gross daily production of 78.1 mboepd.

UEG holds a 60% participating interest in the Exploration Development and Production Service Contract (“EDPSC”) of Block 9 in Iraq and is the Operator of this block. In 2022, average daily gross production was approximately 57,845 boed, and average daily working interest production was approximately34,707boed. Accumulated gross production and working interest production for the year were approximately 21.1 mmboe and 12.7 mmboe respectively.  Block 9 has an oil and liquids ratio of 100%.

The Group holds a 30% participating interest in the Gas Development and Production Service Contract for the Siba contract area in Iraq and is the Operator of this block. Average daily gross production in 2022 was approximately

20,247 boed, and average daily working interest production was approximately 6,074 boed. Accumulated gross and working interest production were approximately 7.4 mmboe and 2.2 mmboe respectively. Siba has an oil and liquids ratio of ~67%

*According to UEG’s Investor’s Report (2022)