Pivotree Engages Nick Maden To Support Norway Growth

For Immediate Release

Highlights

  • Agreement secured with Mr Nick Maden to promote and sell Pivotree in Norway
  • Mr Maden is an Ex Senior-Vice President Equinor, having spent just under a decade with the operator.
  • He is a highly respected industry professional in Norway and throughout Europe with a strong new technology background.

Oil and Gas technology company PIVOTREE (or the “Company”) is pleased to advise that it has secured an agency agreement (“Agreement”) with prominent industry professional, Nick Maden, based in Norway (“Nick”) to significantly expand its exposure in the Norway market and build on the momentum already gained with several Norwegian operators. The Agreement follows the mandate of many Norwegian operators to adopt world leading technology in development of their assets.

Nick has over three decades’ experience working within the Oil and Gas industry, including over 15 years between Equinor and Suncor Energy (Canada). He a strong proponent of new technology having sat on several Advisory boards in Norway and the US.

Under the Agreement, Nick will market PIVOTREE ’s technology in Norway. The Agreement does not provide for a minimum term and will continue in perpetuity.

Pivotree CEO, Chris Merrick, commented: “Nick has come to us highly recommended and is greatly respected in the industry for his broad and deep experience, especially in Norway. Nick has lived and worked in Norway for over 15 years, speaks the language, and is deeply connected to our customers who are over 14,000kms away.

Norway is PIVOTREE ’s second biggest market by volume and a strategic priority for our business. PIVOTREE has already had strong inbound interest from several operators in Norway and is excited to engage with many more through Nick’s relationships. Norway has for the longest time, been recognised as a global leader for the development and adoption of best practice for many technologies within the Oil & Gas sector. Nick’s support to navigate the local market will be invaluable to our long-term plans in the region.”

Nick Maden commented: “I am thrilled to share the exciting news of partnering with PIVOTREE. Together, we are embarking on a transformative journey. This collaboration brings forth immense opportunities for innovation and growth as we leverage PIVOTREE’s unique expertise to reshape the oil field development landscape on the Norwegian continental shelf. We are excited about the potential this partnership holds and the value it will bring to our customers. Join us as we forge ahead, delivering exceptional oil field development solutions for our Norwegian based clients.”

About Pivotree Pty Ltd

Pivotree Pty Ltd is a technology company based in Perth, Western Australia. The company specialises in low-cost, low-risk, agile energy production and carbon storage technologies, with a mission to accelerate the global transition to a sustainable and low-carbon energy system.

For more information about Pivotree Pty Ltd and its innovative technology, please visit www.pivotree.com.au.

About Mr Nick Maden

Nick is a senior Oil & Gas executive with a proven track record of delivery throughout the upstream value chain. He has led and been a part of teams that captured, explored, discovered, developed, and produced oil and gas in over 25 countries. Nick was recently the Senior Vice President, International Exploration, for Equinor, was a Principal for Oslo Energy Advisors, and is currently MD/CEO of Impact Technology Systems, based in Oslo, Norway. Prior roles include VP and Company Officer, VP, Exploration for Suncor, and Exploration Manager for ARCO.

For more information about Nick Maden, please visit www.linkedin.com/in/nick-maden/

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This announcement is authorised for release by Marcus Christian, Executive Director, Pivotree.

For further information please contact:

Marcus Christian, Executive Director

mpchristian@pivotree.com.au

Forward Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of Pivotree are, or may be, forward looking statements.  Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.  Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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