Mr. Grayson Andersen reports

STAMPER ANNOUNCES LICENCE UPDATES AHEAD OF DRILLING CAMPAIGNS, NAMIBIA REGULATORY MILESTONE AND CONFERENCE PRESENTATION

Stamper Oil & Gas Corp. has provided an update on its licence portfolio and regional drilling catalysts and a Namibian petroleum legislative milestone and confirmed its participation in Emerging Growth Conference 97 on Wednesday, Oct. 28, 2026, at 10:15 a.m. ET.

Grayson M. Andersen, chief executive officer of Stamper, stated: "We are encouraged by the approval at second reading of the Petroleum (Exploration and Production) Amendment Bill by Namibia's National Assembly, with 50 votes in favour and none against. This regulatory progress coincides with a pickup in drilling activity offshore Namibia, where three deepwater drilling rigs are preparing for exploration and appraisal campaigns from Chevron, TotalEnergies and Shell. Additionally, we are encouraged by progress made with regulators as we work with our partners to obtain extensions to the initial exploration period of our petroleum exploration licences (PEL) and transition from the initial exploration period to the first renewal exploration period, ahead of a wave of industry activity, which will have a meaningful impact on the technical understanding of our portfolio of assets. Our priority is to advance technical work and pursue farmout transactions that could bring additional expertise and capital into the portfolio. I look forward to discussing our strategy and these opportunities with investors at Emerging Growth Conference 97 on Wednesday, Oct. 28, 2026, at 10:15 a.m. ET. I would encourage investors to participate [...]."

Portfolio advancements and drilling catalysts

The company's operating partner on PEL 106 has submitted an application to extend the initial exploration period for a further 12 months to provide additional time to advance the technical evaluation on the PEL including the acquisition of additional 3-D seismic. Stamper holds a 5-per-cent carried interest in PEL 106. An extension would support the assessment of the licence's potential and the pursuit of opportunities to attract exploration partners. The application remains subject to regulatory approval.

Additionally, the operating partners on PEL 98 in the Walvis basin and PEL 102 in the Luderitz basin have made applications for either extensions to the initial exploration period or to transition from their initial exploration periods into their respective first renewal exploration periods. Stamper holds a 5-per-cent carried interest in PEL 98 and a 20-per-cent carried interest in PEL 102. The proposed extensions or transitions, if approved, would support continued exploration evaluation and provide the next stage for advancing the licences with their respective partners. Stamper intends to use this period to support technical work and pursue opportunities to bring additional expertise and capital into the portfolio. The applications remain subject to regulatory approval.

Chevron announced in its Aug. 17, 2026, news release that it expects to drill the Nabba-1X exploration well on PEL 90 before the end of 2026. PEL 90 is adjacent to Stamper's PEL 107, making the planned well an important regional exploration catalyst for the company. Industry participation in the licence has also broadened: Equinor announced on Aug. 18, 2026, an agreement to acquire a 17.4-per-cent participating interest from Chevron's subsidiary, Harmattan Energy Ltd. Separately, Sintana Energy announced on Oct. 1, 2026, that Trago Energy, a subsidiary of Custos Energy, had agreed to transfer its 10-per-cent participating interest to Harmattan for $11-million (U.S.), payable at completion, plus contingent consideration linked to appraisal and production milestones. Both transactions were announced subject to applicable approvals and completion conditions.

Shell reported encouraging results from Merlin-1X on PEL 39 in its June 9, 2026, announcement and indicated that further drilling later in 2026 as part of a broader exploration and appraisal program. TotalEnergies subsequently announced on Sept. 3, 2026, plans for a three-well appraisal campaign at the Mopane discovery on PEL 83, potentially commencing in the second half of 2026. Results elsewhere do not establish hydrocarbons or commercial viability on Stamper's licences. The foregoing information concerning PEL 39, PEL 83 and PEL 90 constitutes analogous information and is derived from the dated public announcements identified above.

Management believes this activity could benefit Stamper by improving regional geological understanding, encouraging prospective partners to assess additional acreage and supporting the growth of Namibia's offshore service industry. The most direct regional exploration context is for Stamper's 32.9-per-cent indirect working interest in PEL 107 in the Orange basin. The applications relating to PEL 98, PEL 102 and PEL 106 support the company's parallel efforts to advance opportunities in the Walvis and Luderitz basins. Stamper remains focused on technical evaluation and potential farmout transactions that could help finance future exploration. Continued investment by international operators also demonstrates sustained industry interest in the basin.

Namibia Petroleum (Exploration and Production) Amendment Bill milestone

The Namibia Petroleum (Exploration and Production) Amendment Bill cleared the second reading in the National Assembly on Oct. 20, 2026, with 50 votes in favour of the bill and none against. The bill proposes to formally establish the Upstream Petroleum Unit (UPU) in the Office of the President. The bill remains subject to completion of the National Assembly process, review by the National Council, presidential assent, and applicable publication and commencement requirements. Once legally established, the UPU will oversee, regulate and co-ordinate Namibia's upstream petroleum activities as the country moves toward first commercial production. This includes the awarding and management of PELs, policy co-ordination and project negotiation, which would include the continuing development talks with respect to the final investment decision with TotalEnergies. For Stamper, the proposed reforms could support more co-ordinated regulatory engagement as the company and its partners pursue licence extensions, renewals and future exploration programs across its four-licence Namibian portfolio and add additional PEL subject to the bill's enactment and effective implementation.

Emerging Growth Conference 97 presentation

Stamper will be presenting at Emerging Growth Conference 97 at 10:15 a.m. ET on Wednesday, Oct. 28, 2026. This live, interactive on-line event will give existing shareholders and the investment community the opportunity to interact with the company's chief executive officer, Mr. Andersen, in real time.

Please register on-line to ensure you are able to attend the conference and receive any updates that are released.

If attendees are not able to join the event live, an archived webcast will also be made available on-line. A link to the presentation will be posted to the company's social media profiles following the event.

About Stamper Oil & Gas Corp.

Stamper Oil & Gas is an offshore-Namibia-focused oil and gas exploration company with ownership interests across five offshore exploration blocks covering four PELs in the Orange, Walvis and Luderitz basins. The company's portfolio provides exposure to multiple high-impact oil and gas exploration opportunities in one of the world's most active exploration regions.

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