Supernova Metals Corp. entered into a non-binding letter of intent on May 4, 2025, with Oregen Corp. to review a potential acquisition of a further 36% interest in WestOil Limited.
WestOil controls a 70% interest in Block 2712A, located offshore of Namibia in the Orange Basin.
Supernova Metals Corp. controls a 12.5% equity interest in WestOil through its subsidiary, NamLith Resources Corp.
According to the Letter of Intent, Supernova Metals Corp. contemplates acquiring all the outstanding share capital of an affiliated company of Oregen, which will hold the 36% equity interest in WestOil.
Upon completing the transaction, Supernova Metals Corp. would own 48.5% equity interest in WestOil.
Supernova Metals Corp. completed the acquisition of NamLith Resources Corp in January 2025.
In February 2025, Supernova Metals Corp. engaged 05 Management Ltd., UK and Pioneer Oil and Gas Consulting Ltd. to prepare a NI 51- 101 technical report on Block 2712A.
On April 11, 2025, Supernova Metals Corp. announced the appointment of Stuart Munro as vice president of exploration to lead exploration efforts in the Namibian Orange Basin.
