Humble Energy, Inc. (OTCPK:HUML) entered into agreement to acquire 100% membership interests in Madalena Energy Argentina SRL (MEA) from Centaurus Energy Inc. (TSXV:CTA) on September 27, 2021. Pursuant to the transaction, Humble will purchase all of the MEA membership interests in consideration for Humble's assumption of all liabilities with respect to MEA except for any liabilities related to Centaurus' interests in the Coirón Amargo Sur Este hydrocarbons area, located in the Province of Neuquén ("CASE"), the Curamhuele hydrocarbons area, located in the Province of Neuquén ("Curamhuele"), any liabilities related to any incentive plans, stock options or any other benefits granted to any employees or officers of MEA by Centaurus or its affiliates, and any liabilities relating to MEA's affiliation with Alejandro Augusto Peñafiel and José David Peñafiel. All rights and causes of action of MEA arising against any and all prior directors and officers of Centaurus will remain with Centaurus. In addition to conditions usual to transactions of this nature, the transaction will be subject to the fulfillment of the conditions precedent on or before December 31, 2021 including the closing of the sale of the working interest of MEA in the CASE block to Pan American Energy, S.L., Argentine Branch ("PAE"), which was previously announced on April 28, 2021, including the transfer to Centaurus of a certain overriding royalty in the amount of $25 million to be paid to MEA under the terms and conditions described in the CASE assignment to PAE (the "PAE ORRI") and the settlement between the Province of Neuquén and MEA of the liabilities relating to the Curamhuele block.

On October 20, 2021, Centaurus Energy Inc. entered into an amendment to the agreement where Humble will enable Madalena Energy Argentina to make an upfront payment of $6 million to the Province of Neuquén to settle liabilities related to the Curamhuele hydrocarbons area. In exchange, Madalena Energy Argentina will transfer to Centaurus $17 million of the total overriding royalty amount of $25 million to be paid to MEA under the terms and conditions described in the Coirón Amargo Sur Este hydrocarbons area, located in the Province of Neuquén assignment to PAE in settlement of all intercompany debts and obligations owed by Centaurus to Madalena Energy Argentina. As a result of the amendment, the condition precedent to closing of the transaction relating to the settlement of the Curamhuele liabilities will be fulfilled. The transaction is expected to be closed on December 31, 2021. Euro-Latin Capital acted as a financial advisor, MBP Partners Abogados and Tingle Merrett LLP acted as legal advisors to Centaurus Energy Inc. (TSXV:CTA).

Humble Energy S.A. cancelled the acquisition of Madalena Energy Argentina SRL from Centaurus Energy Inc. (TSXV:CTA) on May 4, 2022.