Investor Relations

Oslo July 28, 2025

Updated presentation regarding Inpector transaction (Updated July 29, 2025)

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com

Oslo July 25, 2025

Knox Energy Solutions AS (“Knox”) has signed the final agreement with Inpector Capital B.V. (“Inpector”) regarding the acquisition of 38% of Inpector for USD 20 million. Net to Knox, the acquisition is expected to add ~950 bpd at current production levels with a plan to double that amount in 3 years.

The Inpector group is producing oil from the Issaran onshore field in Egypt. The Issaran field is a heavy oil field and the production is currently about 4,000 barrels per day. Inpector plans to ramp production up to around 10,000 barrels per day by 2028.

The Issaran concession holds approximately 700 million barrels of oil, and comparable fields have shown recovery factors of more than 20%.

Knox will pay USD 10 million in cash, to be primarily used to increase production through enhanced development drilling, and issue 6,276,990 new shares in Knox to Inpector, valued at USD 10 million based on a pre-money valuation for Knox of USD 10.4 million.

This is equal to NOK 16.20 per Knox share, based on a total number of 6,528,070 shares, following pending registration of all exercised warrants. The transaction is subject to Knox raising a minimum of USD 11 million of new equity in a process which is contemplated to start shortly and at a valuation also taking into account the contribution from Inpector.

Inpector is owned by the Dutch & Norwegian investment combination of Kenzoll Capital and Kenda Capital. Kenzoll was founded by Corné Melissen.

Clarksons Securities AS is engaged as exclusive financial advisor and manager for the contemplated capital raise and is also acting as exclusive financial advisor in connection with the company’s contemplated application for a listing on Euronext Growth, which is expected to be submitted shortly after the completion of the equity raise.

The transaction is in line with the company’s plans to grow through the acquisition of companies and Knox has a pipeline of potential follow up projects. Knox already owns 40% of Rapid Oil Production Ltd., which has a 15% fully carried share in the Fyne development project offshore UK.

The transaction is adding major oil company senior executive experience to the Knox team. Furthermore, Inpector and Knox have agreed to cooperate regarding the execution of Knox’ consolidation strategy.

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com

Oslo May 30, 2025

The following warrant holders have today exercised all their warrants:

Geir Aune: 1 393 994 warrants

Tom Kristiansen: 497 855 warrants

Sven Tiefenthal: 248 081 warrants

Georges Lambert: 139 748 warrants

There are no more outstanding warrants.

Following the transactions, the total number of shares outstanding will be 6 528 070.

For further comments, please contact:

Geir Aune, Chairman & CEO, ga@knox-energy.com

Tom Kristiansen, COO, tk@knox-energy.com

Oslo May 20, 2025

Knox is planning to start the capital raise for the earlier announced Inpector transaction as soon as possible.

This involves raising of USD 12 mill of new equity and completion of the transaction of acquiring 38% of Inpector, by paying USD 10 mill in cash and issuance of the equivalent of USD 10 mill in Knox shares. 

The capital raise led by Clarksons Securities AS will start when all necessary preparations are in place, including the final due diligence report. The due diligence review is nearly completed and the company is awaiting the formal report. The company will have informal discussions with potential investors prior to start of the formal process.

Pre money valuation of Knox agreed with Inpector for the relative valuation and the issuance of new shares to Inpector is USD 10.4 mill

For further comments, please contact:

Geir Aune, Chairman & CEO, ga@knox-energy.com, +44 7742 230112

Tom Kristiansen, COO, tk@knox-energy.com, +47 915 36844

Oslo May 2, 2025

Harald B.Hansen, who has been the CEO of Knox Energy Solutions since April last year, has given his notice to leave the company.

Knox will search for a new CEO, to be part of the team executing the company's strategy of building a dynamic industry consolidator.

In the interim period, Geir Aune will from the current date take the position as CEO in addition to being the chairman.

We are thanking Harald Hansen for his contribution during his time with the company.

For further comments, please contact: Geir Aune, Chairman & CEO, ga@knox-energy.com

Oslo March 18, 2025

Knox will be listed on Euronext NOTC Wednesday March 19 and the company will start executing its strategy of acquiring undervalued companies financed through the public capital market. The first transaction is already agreed in principle.

Knox has increased its position in Rapid Oil Production Ltd. and now owns 40% of the company. Rapid Oil consists mainly of the 15% fully carried interest in the Fyne field, planned to be in production by 2028.

In addition to the investment in Rapid Oil, Knox has entered into a Heads of Agreement with Inpector Capital BV (NL) regarding acquisition of 38% of the company for USD 10 million in cash and USD 10 million in Knox shares.

Inpector produces heavy oil onshore Egypt through its subsidiary Scimitar Production Egypt Ltd. and will use the proceeds from Knox to ramp up production on the Issaran field from current 3,350 bbls/d to more than 8,000 bbls/d within three years. The Issaran field has oil in place of some 720 million bbls of which 27 million bbls has been produced. Third Party certified 2P plus 2C reserves and resources are 42 million bbls., based on the 2023 independent third party reserve report (the “CPR”) by McDaniel & Associates.

Clarksons Securities has been engaged by the company to assist in raising USD 10-12 million in equity for the acquisition.

Knox has a strategy of building an oil company through acquisition of smaller, undervalued oil companies, assets or companies in “special situations” and production royalties.

The company is currently evaluating additional opportunities and will focus mainly on corporate acquisitions, utilizing the capital market for financing of these transactions.

See enclosed company presentation for further details.

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com

Harald B. Hansen, CEO, hh@knox-energy.com