Investment in Nomad Energy

Nomad Energy is a private oil and gas exploration and development company primarily focussed on commercialising existing gas reserves in shallow offshore waters of the Ivory Coast. The Company is currently attempting to negotiate a gas sales agreement with local utilities for the supply of gas to existing and proposed power stations in the country. Primorus owns 40,000 shares at the last investor round price of US$7.50 per share. Upon any successful further funding levels by Nomad Energy we may review the value of this investment.