BW Energy: Appraisal well confirms potential for future Bourdon development cluster

22 Apr 2025 07:30 CEST

BW Energy is pleased to announce that second sidetrack DBM-1 ST2 well has
confirmed the substantial oil discovery with good reservoir and fluid quality of
the Bourdon prospect in the Dussafu Licence offshore Gabon, announced on 7 March
2025. Management estimates indicate 56 million barrels oil in place of which
approximately 25 million barrels are considered recoverable.

"The appraisal well confirms the potential for establishing a new development
cluster with a production facility following the MaBoMo blueprint. We expect at
least four producing wells," said Carl K. Arnet, CEO of BW Energy. "We continue
to successfully expand the Dussafu reserve base which, together with multiple
additional prospects yet to be to be drilled, will support long-term production
and value-creation in Gabon."

Initial data shows that oil from Bourdon field has the lowest viscosity of the
Dussafu discoveries measuring an average of 3.5 centipoise (cp), compared to 5
cp and 7 cp for the Hibiscus / Tortue and Ruche fields, respectively.

Evaluation of logging data and formation pressure measurements confirm
approximately 11.2 metres of pay in an overall hydrocarbon column of 35.2 metres
in the Gamba formation. The well was drilled by the Norve jack-up rig to a total
depth of 4,731 metres.

Bourdon is located approximately 15 kilometres west of FPSO BW Adolo and 7.5
kilometres southeast of the MaBoMo facility. The discovery will enable the
Company to book additional reserves not included in its 2024 Statement of
Reserves.



For further information, please contact:

Brice Morlot, CFO BW Energy

+33.7.81.11.41.16
ir@bwenergy.no (mailto: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 subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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