BW Energy: Substantial oil discovery made on the Bourdon prospect 

07 Mar 2025 07:30 CET

Substantial oil discovery made on the Bourdon prospect


BW Energy is pleased to announce a substantial oil discovery with good reservoir
quality on the Bourdon prospect in the Dussafu Licence offshore Gabon.

Evaluation of logging data and formation pressure measurements confirm
approximately 34 metres of pay in an overall hydrocarbon column of 45 metres in
the Gamba formation, making it the largest hydrocarbon column discovered to date
in the Dussafu licence. The well was drilled by the Norve jack-up rig to a total
depth of 4,135 metres.

The discovery will enable the Company to book additional reserves not included
in its 2024 Statement of Reserves.

"The Bourdon appraisal well again confirms the significant resource potential of
the Dussafu licence, which holds multiple additional prospects," said Carl K.
Arnet, CEO of BW Energy. "We will now carefully review the drilling results, but
initial data indicates the potential for establishing a new development cluster
with a production facility following the MaBoMo blueprint. We are evaluating a
second sidetrack to further appraise the discovery".

Bourdon is located approximately 15 kilometres west of BW Adolo FPSO and 7.5
kilometres southeast of the MaBoMo facility.


For further information, please contact:

Brice Morlot, CFO BW Energy

+33.7.81.11.41.16

ir@bwenergy.no


About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting
proven offshore oil and gas reservoirs through low risk phased developments. The
Company has access to existing production facilities to reduce time to first oil
and cashflow with lower investments than traditional offshore developments. The
Company's assets are 73.5% of the producing Dussafu Marine licence offshore
Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in
the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. In addition,
BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy
Africa Ltd. and a 20% non-operating interest in the onshore Petroleum
Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and
resources were 599 million barrels of oil equivalent at the start of 2025.


This information is considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange release
was published by Regine Andersen, 7 March 2025.

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