VisionWave (Nasdaq: VWAV), a U.S.-based defense technology firm seeking to commercialize its proprietary RF sensing for energy exploration, has entered a Letter of Engagement with Liberia’s national oil company for exclusive rights to pursue offshore Blocks LB-4 and LB-5 for eight months.
The engagement creates a conditional pathway toward negotiating a Production Sharing Contract , subject to prequalification, regulatory approvals and legislative ratification, according to report.
Under the agreement, VisionWave must pay a refundable initial signing bonus of $600,000 within 60 days, and the company anticipates data licensing costs of at least $1 million per block to access subsurface information.
If the PSC proceeds and is ratified, signature bonuses of $1 million per block could become payable.
Execution of a final PSC remains contingent on technical, commercial and governmental approvals.
The deal provides VisionWave an exclusive short-term runway to secure rights in a new offshore basin, signaling a strategic push from defense tech into energy exploration using its RF sensing capabilities.
– Negative: A PSC is not guaranteed; the process requires multiple approvals and legislative ratification in Liberia.
VisionWave expects material capital needs to advance exploration and may need partners or farmout arrangements.
The use of RF sensing for offshore hydrocarbon exploration is technically and commercially unproven at scale, adding execution risk, experts say.
