Reservoir Exploration Technology ASA has signed a term sheet with Lime Rock Partners for an investment of approximately USD 60 million to finance capital expenditures for its RXT4 and RXT5 operations.

Information on the Target

Reservoir Exploration Technology ASA (RXT) is a leading marine geophysical company that specializes in multi-component seismic seafloor acquisition. This innovative approach addresses numerous imaging challenges that traditional towed streamer seismic cannot resolve. RXT's technology is particularly beneficial in enhancing oil recovery from existing fields, providing superior data quality for appraisal and development efforts. Additionally, it offers a viable solution in environments where towed streamers are impractical due to the presence of a high density of platforms and shallow waters. RXT is publicly traded on the Oslo Stock Exchange (OSE ticker: RXT) and maintains offices in Oslo, Norway; Epsom, England; and Houston, Texas.

Industry Overview in the Target's Specific Country

The energy sector in Norway is marked by a strong focus on innovation and technological advancement. With major investments in hydrocarbon exploration and production, Norway remains one of the world's leading oil and gas producers. The country's regulatory environment encourages sustainable practices while promoting exploration activities in both conventional and unconventional resources. Recent developments in the energy industry indicate a growing trend towards the adoption of advanced geophysical technologies to improve extraction efficiency and reduce environmental impacts.

As the demand for oil and gas continues to evolve, new technologies are being utilized to adapt to changing market dynamics. The Norwegian government has actively supported research and development efforts aimed at enhancing the