On behalf of the Board of Directors of GFB, we are pleased to announce that NuEnergy Gas Limited (“NuEnergy”), a subsidiary of GFB which is listed on the Australian Securities Exchange (“ASX”) has today announced on ASX that NuEnergy has received an Acknowledgement letter (“AL”) from the Indonesia’s Special Task Force for Upstream Oil and Gas Business Activities (“SKK Migas”) that:

1. confirms the discoveries of natural gas in the Muara Enim Production Sharing Contract (“PSC”) area;
2. acknowledges the completion of exploration firm commitments by NuEnergy in respect of the Muara Enim PSC; and
3. allows NuEnergy to submit a plan of development within the next 3 years from 18 January 2021.

Further details are enclosed in the attached announcement made by NuEnergy.

This announcement is dated 21 January 2021.