We intend to focus on opportunities that capitalize on the expertise and ability of our management team, particularly our Chairman, Chief Executive Officer and President, James C. Flores, to identify, acquire and operate a business in the energy industry, primarily targeting the upstream exploration and production (“E&P”) sector, midstream sector, and companies focused on new advancing technologies that are transformative and provide the potential for and means to achieve greater profitability in the broader energy sector.

From May 2017 until February 2021, Mr. Flores served as president, CEO and chairman of Sable Permian Resources, which engaged in the acquisition, consolidation and optimization of oil and gas upstream opportunities. Sable Permian Resources filed a voluntary petition for bankruptcy on June 25, 2020, and emerged from bankruptcy on Feb. 1, 2021. Prior to Sable Permian Resources, Mr. Flores served as vice chairman of Freeport-McMoRan, Inc,. and CEO of Freeport-McMoRan Oil & Gas, a wholly owned subsidiary of Freeport-McMoRan Inc., the world’s largest publicly traded copper producer, from June 2013 until April 2016.

Gregory Patrinely, our CFO, served as executive vice president and chief financial officer of Sable Permian Resources from June 2018 until February 2021.

(Note: Flame Acquisition priced its SPAC IPO on Feb. 24, 2021, in line with the terms in its prospectus: 25 million units at $10 each to raise $250 million.)