OUR STORY

EXPLORING FOR COMMERCIAL OIL AND GAS IN UGANDA

The discovery of large commercial oil accumulations in the
Northern Albertine Graben drives Conjugate Energy’s passion
to explore in the Southern part of the Basin.

Underpinning the quest to discover oil in the Albertine Graben,
enrich shareholders, stakeholders and contribute to new energy advancement in Uganda, is Conjugate’s desire to forge a
harmonious relationship between exploration, environmental awareness and all Ugandan stakeholder interests.

Responsibility for environment and biodiversity is taken seriously
and the company is committed to preserving and safeguarding
in the regions where it operates. To this end, the Project Licences
and all Prospects and Leads are named in recognition of Uganda’s unique birdlife. Our KANYWATABA Project was named after the brightly coloured Kanywataba bird (Sunbird) and the TURACO Project after the graceful White-Cheeked Turaco bird.

Conjugate’s Projects are located in a basin that is currently rifting,
is less than 40% explored and has exposure to multi-million barrel prospects, in a country where revenue streams of this magnitude
are greatly needed.

Further paths to commercialisation will be delivered by the planned 2025 completion and commissioning of the East African Crude Oil Pipeline (EACOP) which would present a synergy with Conjugate’s targeted discoveries and provide the company with access to the international oil markets.

“Conjugate Energy is proud to be part of an extremely exciting time in Uganda’s future as we assist in the emergence of a new oil exporting country and help Uganda to increase its GDP.”

Nicholas Mather, Conjugate Energy CEO, 2023

2017 | Exploration Activities Commenced in Uganda

Conjugate Energy was formed when, ASX-listed, DGR Global Ltd announced it’s intention to list a new company on the Alternative Investment Market (AIM) of London’s Stock Exchange (LSE) (refer to the asx announcement, here). Since 2017, Petroleum Exploration Licences have been held by DGR Global subsidiary companies with Armour Energy Uganda SMC Ltd (83% DGR) holding the Kanywataba Petroleum Exploration Licence and DGR Energy Turaco Uganda SMC Ltd (100% DGR) holding the Turaco Petroleum Exploration Licence.

From 2017, significant and continual exploration activities have been carried out by these holding companies along with geological studies, social and environmental impact reviews and all Government and regulatory liaison. When Conjugate Energy completes its capital raising and is listed on AIM these two subsidiary companies will be transferred to Conjugate Energy.

Driving through local Ugandan village on way to site