09:02 AM EDT, 03/24/2026 (MT Newswires) -- VisionWave ( VWAV ) said Tuesday it has entered into a letter of engagement with the National Oil Company of Liberia for offshore petroleum Blocks LB-4 and LB-5 in the Liberia Basin.

Under the terms of engagement, the company said it will have exclusive rights to pursue the two blocks for eight months, while providing a conditional pathway to a production sharing contract with the Government of Liberia, subject to relevant approvals.

VisionWave ( VWAV ) said it plans to evaluate the use of its proprietary radio-frequency sensing and imaging technologies alongside seismic and geophysical methods for offshore resource identification.

The engagement includes a refundable signing bonus of $300,000 per block, or $600,000 in total, payable within 60 days, subject to conditions, the company said.

VisionWave ( VWAV ) shares were up nearly 8% in Tuesday premarket trading.

Price: 6.39, Change: +0.47, Percent Change: +7.94