Oregen Energy (formerly Supernova Metals Corp.) has completed the acquisition of all of the outstanding share capital of the privately held Oranam Energy. The Acquisition proceeded pursuant to a share exchange agreement entered into between the Company, Oranam, and each of the shareholders of Oranam, and dated May 12, 2025.  The Company has received conditional approval for the Acquisition and the Offerings from the Canadian Securities Exchange (the “CSE”). Resumption of trading of the common shares of the Company (each, an “Oregen Share”) under the symbol “ORNG” remains subject to satisfaction of the remaining filing requirements with the CSE. The Company will provide an update as to the resumption of trading of the Oregen Shares once a date has been confirmed.

Through the Acquisition, the Company has acquired an additional 36.0% gross equity interest in WestOil Limited, a private company that owns a 70% interest in block 2712A offshore Namibia Orange Basin, one of the world’s most active offshore exploration frontiers. The Orange Basin has attracted significant industry interest following recent multi-billion-barrel discoveries in adjacent blocks, including Galp’s Mopane, TotalEnergies Venus, Shell’s Graff and Rhino/BP-ENI JV Capricornus discoveries. Block 2712A covers 5,484 km² and is strategically located near these discoveries, offering substantial exploration potential. The Company currently controls a 12.5% equity interest in WestOil through its subsidiary, NamLith Resources Corp. which represents an 8.75% net interest in Block 2712A (PEL 107). The additional 36.0% equity interest in WestOil represents a 25.2% net interest in Block 2712A (PEL 107), thereby increasing the Company’s total net interest to 33.95% and a 48.5% equity interest in WestOil. 

KeyFacts Energy: Oregen Energy Namibia country profile