DANICA RESOURCES ApS

Primary activities of the Company The company's main activity is exploration and production of hydrocarbons and other related business areas. The Farm Out Agreement with a foreign company entered into in 2012 was brought to an end in 2015 when the License was given back to the Danish Government. The Company applied in 2015 for new licenses with the fields “Hydrocarbons and Geothermal Hot Water”. The License application for Exploration of possible Hydrocarbons was rejected. The License application for exploration after Geothermal Hot Water was granted. Negotiations with relevant Danish Authorities is ongoing.