GulfSlope Energy Inc (GSPE)

[smith199]

The 30th OPEC and non-OPEC Ministerial Meeting was held via videoconference on June 30, 2022. In view of current oil market fundamentals and the consensus on its outlook, the OPEC and participating non-OPEC oil producing countries agreed to:

1. Reaffirm the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12th April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on the 18th July 2021.

2. Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th and 29th OPEC and non-OPEC Ministerial Meetings and the decision to adjust upward the monthly overall production for the month of August 2022 by 0.648 mb/d.

OPEC Production Table: https://www.opec.org/opec_web/static_files_project/media/downloads/Production%20table.pdf

3. Reiterate the critical importance of adhering to full conformity and to the compensation mechanism. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting.

4. Hold the 31st OPEC and non-OPEC Ministerial Meeting on 3 August 2022.