Oil discovery in the Talisker exploration well at the Brage field

25 Aug 2025 08:00 CEST

(Trondheim, 25 August 2025) OKEA ASA (OSE: OKEA) announces oil discoveries in
the Talisker exploration well at the Brage field (PL 055). The discoveries were
made in the Cook and Statfjord formations and are considered commercial with
preliminary estimates of gross recoverable resources in the range of 16 - 33
mmboe combined. In addition, appraisal of hydrocarbons encountered in the Brent
group is expected completed during Q4 2025.

The Talisker exploration well (31/4-A-15 B), a 10.223 meter long well, was
drilled from the Brage platform in the North Sea. Discoveries were made in the
Cook and Statfjord formations and are considered commercial with preliminary
estimates of gross recoverable resources in the range of 2 - 7 mmboe in the Cook
formation and 14 - 26 mmboe in the Statfjord formation respectively. In
addition, hydrocarbons were encountered in two thin sandstones in the Brent
group which will be further appraised by the upcoming well paths, expected
completed during Q4 2025.

"This discovery is another example of OKEA's strategy to utilise existing
infrastructure, subsurface knowledge and drilling technology to unlock more
value in the Brage area, and extend the lifetime of the field", says Svein J.
Liknes, CEO of OKEA.

More information on the final well result will be published by the Norwegian
Petroleum Directorate in due course. OKEA ASA (operator) holds 35.2% WI, Lime
Petroleum AS 33.8434% WI, DNO Norge AS 14.2567% WI, Petrolia NOCO AS 12.2575%
WI, and M Vest Energy AS 4.4424% WI in the PL055 license.

For further information, please contact:
Stig Hognestad, VP Investor Relations
stig.hognestad@okea.no
+47 902 59 040

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:
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