VisionWave Holdings Inc. (NASDAQ: VWAV) 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, the company announced.

The agreement provides VisionWave with exclusive rights to pursue the blocks for eight months and establishes a conditional pathway toward a Production Sharing Contract with the Government of Liberia. The arrangement requires VisionWave to pay an initial signing bonus of $300,000 per block, totaling $600,000, within 60 days of execution.

VisionWave plans to deploy its proprietary radio-frequency sensing and imaging technologies alongside traditional seismic and geophysical methods for offshore exploration. The company develops AI-driven sensing and RF technologies primarily for defense and security applications.

"This engagement represents a strategic step in expanding VisionWave's technology platforms into large-scale global industries," said Douglas Davis, CEO and Executive Chairman. "We believe that combining conventional exploration methodologies with advanced RF-based sensing technologies may introduce new capabilities into offshore resource identification."

The Letter of Engagement does not constitute a final award of petroleum rights. Any Production Sharing Contract remains subject to prequalification by the Liberia Petroleum Regulatory Authority, regulatory approvals, and legislative ratification. VisionWave expects to incur additional material costs including data licensing fees of at least $1 million per block and signature bonuses of $1 million per block following ratification.

The company stated it may seek strategic partners or farm-out arrangements to mitigate financial exposure. VisionWave acknowledged that participation in the blocks would require substantial additional capital and face significant geopolitical, regulatory, and operational risks in Liberia.

This initiative represents VisionWave's entry into offshore petroleum exploration, expanding beyond its primary defense and homeland security markets. The company noted there is no assurance its RF technologies will prove technically feasible or commercially viable in offshore petroleum exploration contexts.