Investor Relations

Oslo, August 28, 2026

Knox has signed a memorandum of understanding with the owner of a UK North Sea license with a proven discovery, planned to be developed to production.

Knox will, assuming certain conditions are met, acquire 100% of the company in exchange for 8.4% of the outstanding numbers of shares in Knox, after closing of the Inpector transaction, in addition to a phased payment of USD 1.2 mill in cash.

Based on the field being developed according to the plan, the accumulative production is expected to reach approximately 15 mill boe, with planned start in the first half of 2029.

Assuming the transaction is closed as anticipated, it will increase Knox’s total share of contingent resources expected to be developed from 8.7 mill to 23.7 mill boe and significantly increase the future cash flow to the company. This represents a major steppingstone in the development of Knox as an independent production company.

The process of negotiating this agreement has caused a delay in the call for the extraordinary shareholders meeting for final approval of the Inpector transaction, which according to the revised plan will be held on September 18, 2026.

For further comments, please contact:

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

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

Oslo August 5, 2026

It has now been agreed with Inpector Capital B.V. (“Inpector”) to call for an Extraordinary General Meeting on August 31 2026, to approve the transaction between Knox Energy Solutions AS (“Knox”) and Inpector, earlier announced on 6 April 2026.

Knox will, in exchange for 50% of the equity in the company, receive 12.5% ownership of Inpector and USD 1.2 mill in cash to be used as working capital. 

Inpector fully owns Scimitar Production Egypt Ltd (“Scimitar”), the operator of the Issaran onshore heavy oil field, located in Egypt’s eastern desert c. 300 km south-east of Cairo. The field is currently producing about 4,500 barrels per day. The plan is to ramp production up to around 10,000 barrels per day after which Scimitar intends to start distributing part of its operating cash flow. The Issaran concession held approximately 700 million barrels of oil-in-place, of which less than 4% has been produced to date.

For further comments, please contact: 
Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo July 9, 2026

Attached are the minutes from the Annual General Meeting.

Minutes from the AGM

For further comments, please contact:
Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo June 30, 2026

Attached is the notice of postponement of the annual general meeting in Knox Energy Solutions AS.

The Board proposes that the general meeting is to be held in accordance with the rules governing simplified general meetings, cf. Section 5-7 of the Companies Act.

For further comments, please contact:
Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Attachments:

AGM Announcement 30.06.26

Annual Report 2024

Annual Report 2025

Oslo June 26, 2026

In preparation for the transaction between Knox Energy Solutions AS (“Knox”) and Inpector Capital B.V. (“Inpector”) announced on 6 April 2026, Inpector is in its final stage of completing the reorganisation of the company.

The final approval of the selected structure for the reorganisation will clear the path to call for the Knox shareholders meeting and closing of the transaction.

Inpector and Knox have agreed to extend the long stop date for the transaction to August 31, 2026. The objective is to close the transaction well within this deadline.

Inpector is currently advancing non-refundable working capital to Knox, as a prepayment of the cash component of the transaction.

Knox will in exchange for 50% of the equity in the company, receive 12.5% ownership of Inpector and USD 1.2 mill in cash to be used as working capital. 

Inpector fully owns Scimitar Production Egypt Ltd (“Scimitar”), the operator of the Issaran onshore heavy oil field, located  in Egypt’s eastern desert c. 300 km south-east of Cairo. The field is currently producing about 4,500 barrels per day. The plan is to ramp production up to around 10,000 barrels per day after which Scimitar intends to start distributing part of its operating cash flow. The Issaran concession held approximately 700 million barrels of oil-in-place, of which less than 4% has been produced to date.

For further comments, please contact:
Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo, June 16, 2026

Attached is the notice of the ordinary general meeting in Knox Energy Solutions AS.

The Board proposes that the general meeting is to be held in accordance with the rules governing simplified general meetings, cf. Section 5-7 of the Companies Act.

Attachment: Notice of ordinary general meeting 

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo, April 17, 2026

Knox Energy Solutions AS will call for a general meeting on Friday 15 May 2026 to approve the completion of the Inpector transaction. This will be part of the Annual General Meeting.

The Company has also started the process of listing on the Euronext Growth in Oslo. 

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo April 6, 2026

Knox Energy Solutions AS (“Knox”) will in exchange for 50% of the equity in the company, receive 12.5% ownership of Inpector and USD 1.2 mill in cash to be used as working capital in a transaction valued at USD 11.5 million, equivalent to NOK 15.24 per share. 

Knox has signed definitive agreements with Inpector Capital B.V. (“Inpector”), who fully owns Scimitar Production Egypt Ltd (“Scimitar”), the operator of a sizeable producing oil field in Egypt’s eastern desert c. 300 km south-east of Cairo.

With the working capital injection, Knox is fully funded and intends to continue to build its investment portfolio through cash and equity transactions as and when attractive opportunities arise while building capacity to start distributing dividends from existing investments.

Inpector’s subsidiary Scimitar will be sufficiently funded from internal cash generation, existing working capital facilities and the full settlement by the Egyptian state oil company of its payment arrears - largely in USD.

Scimitar is producing oil from the Issaran onshore heavy oil field in Egypt, currently producing about 4,000 barrels per day. The plan is to ramp production up to around 10,000 barrels per day after which Scimitar intends to start distributing part of its operating cash flow. The Issaran concession held approximately 700 million barrels of oil-in-place, of which less than 4% has been produced to date.

In parallel with the Knox-Inpector transaction, Inpector has settled a 10% legacy interest held by the previous owner of the company to become the 100% owner of Scimitar. The Production Services Agreement under which Scimitar operates has recently been successfully extended by twenty years to 2051.

In addition to the 12.5% stake in the Issaran field, Knox will own 44% of Rapid Oil Production Ltd. Rapid Oil Production Ltd. has a 15% fully carried interest in the Fyne development project offshore UK. This low-risk shallow water project will be tied back to the Anasuria FPSO. The Fyne concession, with the Fyne and Crinan discoveries, holds approximately 84 million barrels of oil. Knox’ 2P and 2C reserves and resources are estimated to be approximately 2 mmboe.

The two assets described above are intended to be the starting point for the constitution of a portfolio of high-potential oil and gas fields globally, focusing on producing or near-producing assets, leveraging the competence and expertise of the combined management teams of Inpector and Knox. 

Inpector is owned by the Norwegian and Dutch investment combination of Kenzoll Capital and oil and gas specialist Kenda Capital. Kenzoll, founded by Corné Melissen, invests in natural resources and other industries with particular focus on Europe, Africa and the Middle East.

The company will immediately start the process of relisting on Euronext Growth.

Clarksons Securities AS acted as exclusive financial advisor for the transaction and is also acting as exclusive financial advisor in connection with the company’s relisting on Euronext Growth.

For further comments, please contact: 

Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo April 2, 2026

Updated presentation regarding the Inpector transaction.

For further comments, please contact:

Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com

Oslo, October 29, 2025

Knox Energy Solutions AS (“Knox”) – update to the market regarding ongoing processes.

Corporate transaction and capital raise

Knox reported on July 25, 2025, the transaction involving acquisition of 38% of Inspector for USD 10 mill in cash and USD 10 mill in Knox shares, where the cash payment is to be financed through a Private Placement of USD 12 to 15 mill in Knox.

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. Developments both in Egypt’s Oil & Gas sector and Inpector’s operation has been very positive since Knox and Inpector agreed to combine forces.

The Issaran concession holds approximately 700 million barrels of oil in place, and comparable fields have shown recovery factors of more than 20%.
The planned transaction is ongoing and the company is progressing towards its target.

Potential additional opportunity
During the course of the capital raise we have been introduced to a new opportunity, and the company is currently discussing a potential combined transaction that could result in a significantly larger combined entity than what is contemplated in the Inpector transaction alone.

We will report on further progress, if and when certain agreements have been reached.

For further comments, please contact:

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

Oslo October 24, 2025

The Company will come with an update regarding the process of raising new capital Wednesday 29th of October.

For further comments, please contact:

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

Oslo August 6, 2025

Reference is made to the press release issued on July 25 regarding final agreement between Knox Energy Solutions AS (“Knox") and Inpector Capital B.V. (“Inpector”), related to Knox' acquisition of 38% of Inpector. The process of raising USD 12-15 mill to close this transaction will start on Tuesday, August 12, 2025.

Knox will pay USD 10 million in cash, to be primarily used to increase production through accelerated 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 16.30 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 at a valuation also taking into account the contribution from Inpector.

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%.

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.

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

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