Meren Energy Accelerates Offshore Expansion in Namibia, South Africa, and Nigeria

Vancouver, Canada | 15 August  2025 — Meren Energy Inc. (formerly Africa Oil Corp.) delivered strong second-quarter 2025 results, declared its third consecutive quarterly dividend, and advanced major offshore developments in Namibia, South Africa, and Nigeria, reinforcing its deepwater growth strategy.

The Q2 2025 financial statement shows solid operational and financial performance, driven by stable production volumes, disciplined cost management, and efficient capital allocation. The board approved a third quarterly dividend, strengthening the company’s track record of shareholder returns, following similar payouts in Q1 2025.

Meren has been advancing its strategic presence across three strategic hubs. In Namibia’s Orange Basin, appraisal drilling is moving toward development planning. In South Africa, the company is positioning for participation in new deepwater opportunities. Offshore Nigeria, partnership-led initiatives are enhancing production efficiency and extending asset life. As detailed in industry coverage, these efforts underscore a deliberate focus on unlocking high-margin reserves and securing long-term production stability.

The transition from Africa Oil to Meren Energy signals a sharpened strategic direction, with an expanded deepwater footprint and a dual focus on reinvestment in growth projects and consistent dividend distribution. This approach positions the company to deliver both immediate value to shareholders and sustainable production growth.

The earnings release affirms Meren’s commitment to operational excellence, capital discipline, and exploration-led expansion. Building on a strong first quarter, the company continues to strengthen its role as a leading deepwater operator in Africa’s evolving energy landscape.