OKEA farms into Tverrdal exploration well

14 Mar 2025 13:00 CET

(Trondheim, 14 March 2025) OKEA ASA (OSE: OKEA) ("OKEA") is pleased to announce
that it has entered into an agreement with Aker BP ASA ("Aker BP") to acquire a
35% working interest ("WI") in the southern part of PL1102 / PL1102B, containing
the Tverrdal prospect. Effective date of the transaction is 1 January 2025.

The farm-in strengthens OKEA's position in the greater Brage area as Tverrdal is
located approximately 13 km north of the Brage platform. Tverrdal is operated by
Aker BP and is scheduled for a drill-or-drop decision in May 2025.

The PL1102/1102B licensees are applying for a division of the licenses in a
northern and southern part. The agreement with Aker BP is to acquire a 35% WI in
the southern part, subject to governmental approval of the division.

Other partners in the licenses are Aker BP (20% WI post transaction), DNO Norge
AS (30% WI), Equinor Energy AS (15% WI), and OKEA (35% WI post transaction).

The transaction is subject to government approval.

For further information, please contact:
Birte Norheim, CFO

birte.norheim@okea.no

+47 952 933 21

About OKEA
OKEA ASA is a leading mid- and late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

More information:
Access the news on Oslo Bors NewsWeb site

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