Conrad Asia Energy Ltd has announced a significant update on its offshore gas exploration efforts in the Aceh region of Indonesia. The company will soon launch a 3D seismic survey in the shallow-water zone of its Offshore North West Aceh Production Sharing Contract, to be executed by a domestic contractor in late September or early October 2025. This survey, covering approximately 500 square kilometers, is designed to better delineate a cluster of three existing gas discoveries along with six promising leads in a region that has previously demonstrated exploration success rates near 70%. The technical update highlights that the new seismic data will help refine estimates on the size of current discoveries, assess the prospective resource potential, and identify opportunities for additional resource upside. Based on an internal prospectivity study, the shallow-water areas are now estimated to hold unrisked P50 Prospective Resources of 546 billion cubic feet, with 394 billion cubic feet attributable to the company. This is in addition to earlier reported contingent resources from known discoveries and deeper water prospects, which total a substantial volume that underpins the future development strategy. Furthermore, Conrad Asia Energy Ltd is actively examining commercial avenues to monetize these resources. Talks are underway with Indonesia’s leading gas and power companies to explore options for small-scale liquefied natural gas production and gas supply for power generation. The company also revealed plans to drill up to two additional wells in proximity to existing discoveries, pending further details on timing. From a bullish viewpoint, the company's proactive steps in deploying modern seismic technology, combined with high success rates in shallow-water leads and strategic discussions with major domestic energy players, signal robust potential for future gas sales and resource expansion. The added credibility of securing a binding gas sale agreement at its flagship project in West Natuna reinforces the positive outlook. Conversely, from a bearish perspective, key milestones such as seismic data interpretation, successful drilling outcomes, and the progress of commercial negotiations are still ahead. This means that the current estimates remain subject to technical and regulatory risks, and delays or market shifts could impact the expected timeline and revenue generation. Overall, these developments reflect Conrad Asia Energy Ltd’s commitment to enhancing its resource base and advancing its gas commercialization strategies in a dynamically growing region.