BW Energy

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BW Energy: USD 80 million Golfinho prepayment facility and offtake agreement

USD 80 million Golfinho prepayment facility and offtake agreement

BW Energy has entered into an agreement for an up to USD 80 million prepayment
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facility with a leading commodity trading company.

The one-year prepayment facility will be used to finance the acquisition of the
Golfinho field, the FPSO Cidade de Vitória and field-related investments. As
part of the transaction, BW Energy has also entered into an offtake agreement to
sell and deliver the crude oil production from the Golfinho field to the
commodity trader during the term of the facility.

For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76 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 Permit offshore
Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65%
interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in
Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil
equivalent at the start of 2023, when including the Golfinho Cluster.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act?

Kilde

[TekBot]

BW Energy: Mandatory notification of trade

Mandatory notification of trade

Carl K. Arnet, CEO of BW Energy Limited (“BWE”), bought 60 000 shares in BWE
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on Aug 31st at an average price of NOK 25.04 per share. Following this
transaction, Arnet holds 3,881,085 shares in BW Energy Limited.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

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 Permit offshore
Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65%
interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in
Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil
equivalent at the start of 2023, when including the Golfinho Cluster.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Kilde

[pleximus83]

What does Gabon's coup mean regionally and internationally? | Inside Story

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BW Energy: Mandatory notifications of trade by primary insiders and close associates

Mandatory notifications of trade by primary insiders and close associates

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With reference is made to the announcement on 28 August 2023 and 07 September
2023, whereby BW Offshore Limited (“BW Offshore”) announced information relating
to dividend payments.

Please see the attached notifications of trading for information of the
transactions concerning primary insiders in BW Energy and their close associates
in connection with the dividend distribution.

For further information, please contact:
Knut R. Sæthre, CFO BW Energy,
+47 91 11 78 76
ir@bwenergy.no
(https://www.globenewswire.com/Tracker?data=cwPnbjzvXLw4y1v2ucqwU6hgOu0xqH0HTp5g
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NF0ff63TSrXL5qZBpk9j-7m-d5vbVDvWCNn2jf-
KKLuiuedh5FDMRQhJ9Gzewh7c6UHZTYC5qyDD7VYVPlu2LKjOdv4Y4zaKLLjETcg-
4QBLUbYHMgP5Zbcfl3JoK6qOuOKeD4AgDak4O1e2n5AdE3XpbGYhw_wALib6c3XIr2bWs=)

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 Permit offshore Gabon, 100% interest in the Golfinho and Camarupim fields
in Brazil, a 65% interest in the BM-ES-23 block in Brazil, a 95% interest in the
Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all
operated by BW Energy. Total net 2P+2C reserves and resources were 546 million
barrels of oil equivalent at the start of 2023, when including the Golfinho
Cluster.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy starts production from fourth well in the Hibiscus / Ruche development

BW Energy starts production from fourth well in the Hibiscus / Ruche development

BW Energy is pleased to announce that production has safely started from the
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fourth well of the Hibiscus / Ruche Phase 1 development in the Dussafu licence
offshore Gabon. Well performance is in line with expectations with current
production at approximately 6,500 barrels per day.

The DHIBM-6H well was drilled as a horizontal well from the MaBoMo production
facility to a total depth of 4,125 metres into Gamba sandstone reservoir at the
Hibiscus field. Following completion, the Borr Norve jack-up has commenced
drilling operations on the fifth production well DRM-3H. This will be the first
Ruche Gamba well in this drilling campaign.

“The drilling program progresses as planned with strong HSE results and robust
production rates which support our expectations of successive production growth
in Gabon into 2024. We consistently receive well data confirming excellent
reservoir quality, with potential positive implications for Hibiscus reserve
estimates,” said Carl Krogh Arnet, the CEO of BW Energy.

As previously communicated, DHIBM-3H and -4H have experienced issues with the
ESPs (electrical submersible pumps). Investigations into the cause are ongoing.
DHIBM-4H is currently flowing naturally at 2,800 barrels per day, while DHIBM-
3H is temporarily not producing while we continue to work solutions. Current
gross production from the Dussafu license is now approximately 26,500 barrels
per day after the fourth Hibiscus well came onstream.

The drilling campaign targets four Hibiscus Gamba and two Ruche Gamba wells
which are expected to bring the total oil production up to approximately 40,000
barrels per day when all wells are completed in early 2024. The oil produced at
Hibiscus / Ruche is transported by pipeline to the BW Adolo FPSO for processing
and storage before offloading to export tankers.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

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 Permit offshore
Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65%
interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in
Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil
equivalent at the start of 2023, when including the Golfinho Cluster.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy: Company Presentation Pareto Securities’ Energy Conference 2023

Company presentation

BW Energy is presenting at the Pareto Securities’ Energy Conference today.
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Please see the attached presentation.

The presentation references planned fourth quarter liftings to BW Energy from
the Dussafu licence in Gabon and the ongoing development of a new concept for
the Maromba field in Brazil based on a dry tree development with five initial
wells.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

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 Permit offshore
Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65%
interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in
Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil
equivalent at the start of 2023, when including the Golfinho Cluster.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy: Update on the Hibiscus / Ruche development program

Update on the Hibiscus / Ruche development program

BW Energy today provided an update on the ongoing Dussafu assets operations. The
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Company is pleased to inform that production has been re-instated from the
DHIBM-3H well on electrical submersible pump (ESP). The ESP on the DHIBM-4H
well, which has been producing on natural flow, has also been successfully re-
started. The Company is currently working to stabilise production from both
wells. The current total Dussafu gross production, with all the Tortue and
Hibiscus wells in operation, is in the range from 30,000 to 35,000 barrels of
oil per day.

At the Ruche field, drilling and completion activities on the DRM-3H production
well have been temporarily suspended. The well was drilled to a depth of 5,351
meters and encountered oil in the Gamba reservoir. However, it has become
apparent that an alternative final casing design is needed. The DRM-3H is the
longest lateral step-out drilled to date and the company expects to return to
complete this well later in the drilling campaign when additional casing
material is received. To maximize the use of the contracted drilling rig, the
Dussafu partners have initiated drilling of the Hibiscus South exploration
prospect (DHBSM-1), located about 5 kilometers southwest of the BW MaBoMo
production platform. Hibiscus South holds a mid-case volume potential of
approximately 16 million barrels of oil in place (with an estimated 7 million
barrels recoverable) in the Gamba reservoir.

If DHBSM-1 contains commercial volumes, the plan is to return to the well and
complete it as a production well in early 2024. The ongoing Hibiscus / Ruche
drilling campaign is expected to bring total oil production on the Dussafu
license up to approximately 40,000 barrels per day gross when all wells are
completed and on-stream.

For further information, please contact:

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 Permit offshore
Gabon, 100% interest in the Golfinho and Camarupim fields in Brazil, a 65%
interest in the BM-ES-23 block in Brazil, a 95% interest in the Maromba field in
Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW
Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil
equivalent at the start of 2023, when including the Golfinho Cluster.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy: Q3 2023 trading and financial update

Q3 2023 trading and financial update

BW Energy, as the operator of the Dussafu Marine licence in Gabon and the
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Golfinho cluster offshore Brazil, provides an update on its operations and
development. The Company will publish financial figures for the third quarter of
2023 on Thursday, 16 November 2023.

Gross production from the operated assets was 27,400 barrels of oil per day in
the?third quarter 2023. This included a full quarter of production from the
Tortue and Hibiscus fields in the Dussafu licence (73.5% working interest) and
production from the Golfinho field after assuming 100% ownership on 28
August.

INCREASED PRODUCTION IN GABON

Gross production from the Dussafu licence averaged approximately 23,200 barrels
of oil per day in the?quarter, amounting to a total gross production of
approximately 2.14 million barrels of oil for the period. Production was
positively impacted by first oil from two additional Hibiscus wells during the
quarter and start-up of the additional gas lift compressor on the FPSO BW Adolo.
BW Energy completed one lifting in the third quarter at a price of USD 79 per
barrel. Production costs (excluding royalties) for the period was approximately
US 28 per barrel. The reduction, compared to the previous quarter, reflects
mainly the increased production.

BW Energy’s share of gross production was approximately 1.57 million barrels of
oil, an increase of over 50% from the prior quarter. The net sold volume, which
is the basis for revenue recognition in the financial statement, was
approximately 1 million barrels including 32,500 barrels of Domestic Market
Obligation (DMO) deliveries with an under-lift position of 116,000 barrels at
the end of the period.

CLOSING OF THE GOLFINHO ACQUISITION IN BRAZIL

Gross production from the Golfinho field averaged approximately 11,200 barrels
of oil per day from the period 28 August to 30 September, amounting to a total
production of 381.700 barrels in the period. There were no liftings in the
quarter. The first Golfinho lifting of about 500,000 barrels of oil Is expected
to occur in November. Production cost (excluding royalties) averaged USD 48 per
barrel for the period.

OTHER ITEMS

BW Energy had a cash balance of USD 197.6 million on 30 September 2023, compared
to USD 233 million on 30 June 2023. The decrease is primarily due to ongoing
development of Hibiscus Ruche and the Golfinho closing, offset by, draw-down on
the USD 80 million Golfinho prepayment facility. The Company had a total drawn
debt balance of USD 380 million as of 30 September 2023 including the prepayment
facility.

At the start of the period, the Company had commodity price hedges for a
remaining total volume of approximately 1.56 million barrels for 2023, 2024 and
2025, of which approximately 46% was for 2023. These were a combination of swaps
and options that will allow for future cash flow stability for ongoing
development projects. BW Energy has recognised crude oil hedge losses in the
amount of USD 9.1 million for the third quarter of which approximately USD 0.3
million were realised.

In July and September, the Company safely commenced production from the third
and fourth well, respectively, of the Hibiscus / Ruche Phase 1 development.
Challenges with the ESP (electronical submersible pump) on the DHIBM-3H and -4H
wells temporarily impacted production. The ESPs were re-started in mid-October
and the Company is working to stabilise production from both wells. The current
total Dussafu gross production, with all the Tortue and Hibiscus wells in
operation, is approximately 35,000 barrels of oil per day.

At the Ruche field, drilling- and completion activities on the DRM-3H production
well was temporarily suspended pending an alternative final casing design after
encountering oil in the Gamba reservoir. The Company expects to return to
complete this well later in the drilling campaign when additional casing
material is received.

To maximize the use of the contracted drilling rig, the Dussafu partners have
initiated drilling of the Hibiscus South exploration prospect (DHBSM-1), located
about 5 kilometers southwest of the BW MaBoMo production platform. If DHBSM-1
contains commercial volumes, the plan is to return to the well and complete it
as a production well in early 2024. The ongoing Hibiscus / Ruche drilling
campaign has the potential to bring total oil production on the Dussafu license
up to approximately 40,000 barrels per day gross when all wells are completed
and on-stream.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

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 in, a 95% interest in the Maromba field in Brazil and a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. Total net
2P+2C reserves and resources were 546 million barrels of oil equivalents at the
start of 2023, when including the Golfinho Clusters.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy: Substantial oil discovery made in the Hibiscus South prospect

Substantial oil discovery made in the Hibiscus South prospect

BW Energy is pleased to announce that the DHBSM-1 appraisal well has encountered
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commercial volumes of oil in the Hibiscus South satellite prospect. The Company
plans to return to the well to complete it as a production well in early 2024.

The DHBSM-1 well was drilled from the MaBoMo production platform to a total
depth of 6,002 meters. The target area is located approximately 5 kilometres
southwest of the MaBoMo and was drilled by the Borr Norve jack-up rig.
Evaluation of logging data, sample examination and formation pressure
measurements confirm approximately 20 meters of pay in an overall hydrocarbon
column of 26.5 meters in the Gamba formation.

The well data confirms that the Hibiscus South structure is a separate
accumulation with a deeper oil-water contact than the nearby Hibiscus Field.
This will enable the Company to book additional reserves not currently included
in its annual statement of reserves and provide the opportunity to drill one or
more additional production wells from the MaBoMo facility.

“The successful appraisal of the Hibiscus South satellite structure represents a
low-cost and low-risk expansion of the Dussafu production and reserve base. We
look forward to rapidly bringing these high-value barrels into production,” said
Carl K. Arnet CEO of BW Energy. “The result also confirms the significant
potential of the Dussafu licence where we have multiple additional future
prospects.”

Preliminary evaluation indicates gross recoverable reserves of 6 to 7 million
barrels of oil and approximately 16 million barrels of oil in place, in line
with the mid-case pre-drill expectations reported prior to the commencement of
drilling operations.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76

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 in, a 95% interest in the Maromba field in Brazil and a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. Total net
2P+2C reserves and resources were 546 million barrels of oil equivalents at the
start of 2023, when including the Golfinho Clusters.

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 Kathrine Rane, 6 November 2023.

Kilde

[TekBot]

BW Energy: Invitation to Q3 2023 results presentation November 16

Invitation to Q3 2023 presentation 16 November 2023

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BW Energy will release its third quarter 2023 results on Thursday 16 November at
07:30 CEST.

A conference call followed by Q&A will be hosted by CEO Carl K. Arnet, CFO Knut
R. Sæthre and COO Lin G. Espey the same day at 14:00 CEST.

You can follow the presentation via webcast with supporting slides, available
on:

Viewer Registration ? Q3 2023 (webcast.no) (WN Event
registration/ZTZNirHH/register)

For further information, please contact:

ir@bwenergy.no

About BW Energy:

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 main assets are 73.5% of the producing Dussafu Marine
Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both
operated by the Company. Total net 2P+2C reserves were 428 million barrels of
oil equivalents at the start of 2023.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

BW Energy: Third quarter 2023 results

THIRD QUARTER 2023 RESULTS

HIGHLIGHTS
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• Q3 EBITDA of USD 49.7 million and net profit of USD 0.5 million
• Q3 gross production of 2.49 million barrels with 1.93 million barrels net to
  BW Energy
• Completed one lifting of 950,000 barrels (net BWE) at a price of USD 79 per
  barrel
• Start-up of two additional Hibiscus / Ruche production wells and gas lift
  compressor
• Assumed 100% ownership and operatorship of Golfinho from late August
• USD 80 million Golfinho prepayment facility and offtake agreement completed
  and drawn
• Maintained strong balance sheet with cash position of USD 198 million
• Substantial oil discovery made in the Hibiscus South prospect (November)

BW Energy, operator of the Dussafu Marine licence in Gabon and the Golfinho
cluster offshore Brazil, reported EBITDA for the third quarter of 2023 of USD
49.7 million, up from USD 39.3 million in the second quarter. Gross production
from the operated assets was 27,400 barrels of oil per day in quarter, an
increase of 80% compared to the second quarter of 2023. This included a full
quarter of production from the Tortue and Hibiscus fields in the Dussafu licence
(73.5% working interest) and production from the Golfinho field after assuming
100% ownership on 28 August.

“We continue to make significant progress on executing our strategy, delivering
strong production growth from Dussafu and by becoming owner and operator of
material production and cashflow in Brazil, thereby also diversifying and our
production and resource base,” said Carl K. Arnet, the CEO of BW Energy.?“We
have also fast-tracked our appraisal program offshore Gabon, making a
substantial oil discovery in the Hibiscus South satellite prospect. This will
rapidly be brought into production and provide us with low-cost and low-risk
access to high value barrels.”

FIELD OPERATIONS

BW Energy completed one lifting in the third quarter and realised a price of USD
79 per barrel. BW Energy’s share of gross production was approximately 1.57
million barrels of oil, an increase of over 50% from the prior quarter. The net
sold volume, which is the basis for revenue recognition in the financial
statement, was approximately 1 million barrels including 32,500 barrels of
Domestic Market Obligation (DMO) deliveries with an under-lift position of
116,000 barrels at the end of the period.

Gross production from the Dussafu licence averaged approximately 23,200 barrels
of oil per day in the quarter, amounting to a total gross production of
approximately 2.14 million barrels of oil for the period. Production was
positively impacted by first oil from two additional Hibiscus wells and start-up
of the additional gas lift compressor on the FPSO BW Adolo, partly offset by
challenges with the ESPs (electrical submersible pumps) on the DHIBM-3H and -4H
wells. Production costs (excluding royalties) for the period was approximately
USD 28 per barrel. The decrease from previous quarters reflects increased
production.

While the ESPs were re-started in mid-October, the Company continues to
experience challenges impacting production. BW Energy is working closely with
the supplier to identify and resolve the issues affecting the ESPs’ electrical
system. Also in October, the company completed on lifting of approximately
950,000 barrels to the Company at an average price of about USD 90. The next
lifting to BW Energy is planned for end-November.

For 2023, the Company expects a total production of approximately 6.7 million
barrels from the Dussafu licence, reflecting the continued ESP challenges. The
annualised average OPEX is expected at USD 30 per barrel. For 2024, the
production?expectation is in the range of 10 to 12 million barrels due to the
ongoing ESP challenges.

Gross production from the Golfinho field averaged approximately 11,200 barrels
of oil per day from the period 28 August to 30 September, amounting to a total
production of 381,700 barrels in the period. There were no liftings in the
quarter. Production cost (excluding royalties) averaged USD 48 per barrel for
the period. The first Golfinho lifting of about 521,500 barrels of oil was
concluded in early November. A second lifting is planned in December. The take-
over of FPSO Cidade de Vitória from Saipem is awaiting ANP approval.

BW Energy had a cash balance of USD 197.6 million on 30 September 2023, compared
to USD 233.5 million on 30 June 2023. The decrease is primarily due to ongoing
development of Hibiscus Ruche and the Golfinho closing, offset by draw-down on
the USD 80 million Golfinho prepayment facility. The Company had a total drawn
debt balance of USD 380 million as of 30 September 2023 including the prepayment
facility.

DEVELOPMENT PLANS

The ongoing Hibiscus / Ruche Phase 1 drilling campaign comprises eight firm
wells. In addition to the four Hibiscus wells drilled to date, the updated plan
includes a fifth Hibiscus well, a Hibiscus South development well, finalisation
of the Ruche well, and a Bourdon prospect test well. Drilling results to date
show a larger Hibiscus resource and a slightly smaller Ruche resource than
previously modelled, with management estimates of a net addition of ~10 million
barrels oil in place.

In July and September, production commenced from the third and fourth Hibiscus
wells respectively. At the Ruche field, drilling and completion activities on
the DRM-3H production well were suspended pending an alternative casing after
encountering oil in the Gamba reservoir. The Company expects to return to
complete this well later in the drilling campaign when additional casing
material is received.

Drilling of the Hibiscus South satellite prospect (DHBSM-1) was completed after
encountering commercial volumes of oil with approximately 20 meters of pay in an
overall hydrocarbon column of 26.5 meters in the Gamba formation. The Company
plans to return to the well to complete it as a production well in early 2024.
The Hibiscus South structure is a separate accumulation with a deeper oil-water
contact than the nearby Hibiscus Field, which increases the Company’s reserve
base and provides the opportunity to add one or more additional production well
in the current drilling campaign.

The Hibiscus / Ruche drilling campaign has the potential to bring total oil
production on the Dussafu licence up to approximately 40,000 barrels per day
gross when all wells are on-stream. In addition to the Hibiscus South Prospect,
the Company also plans a prospect test well in Bourdon (Prospect B) under the
current rig contract.

In Brazil, the Company progressed preparations for two planned Golfinho infill
wells (GLF-51 oil well and GLF-50 gas well) which are expected to double
production in 2026. Also in Brazil, the Maromba development plan progressed with
completion of the revised concept expected in the second quarter of 2024. Total
oil production from Maromba at peak annual average is expected between
30-40,000 barrels of oil per day. The final investment decision is subject to
completion of the project financing. In October, BW Energy paid the first USD
30 million instalment for FPSO Polvo per schedule. The Company will pay the
remaining USD 20 million in the second quarter of 2024.

In Namibia, BW Energy is progressing the revised development plan for the gas-
to-power project and analysing data from the 3D survey completed in May.
Interpretation of the initial fast-track data has enhanced the depositional
model and de-risked potential targets?with additional prospects identified, and
the Company has decided to start ordering long-lead items for a future
exploration program.

OUTLOOK

BW Energy prioritises safety first with zero harm as an overriding objective for
people and environment. The Company is substantially reducing the carbon
footprint by developing discovered oil and gas resources through large-scale
repurposing of existing production infrastructure.

The Company expects oil and gas to remain an important part of the global energy
mix in decades to come and remains focused on realising long-term value creation
via its phased development strategy and investments in high-return assets. The
flexible investment strategy has proven robust for a range of market scenarios
and positions the Company to address both short- and long-term opportunities to
drive cash flows and earnings.

Energy prices remain at high levels despite a softening of macro-economic
drivers as geopolitical conflicts, global supply change challenges, inflation
and high interest rates. Short-term, the focus is on completing the Dussafu
drilling program and stabilising production from the Tortue, Hibiscus, Ruche and
Hibiscus South fields, and optimising output from the assets in Brazil. Both are
providing a substantial increase in oil production and significant value for
stakeholders.

REPORTS AND PRESENTATION

Please see the attached third quarter presentation and earnings tables.

CONFERENCE CALL/WEBCAST

BW Energy will today hold a conference call followed by a Q&A hosted by CEO Carl
K. Arnet, CFO Knut R. Sæthre and COO Lin G. Espey at 09:00 CET.

Participants dial in numbers:

Pin code for all countries: 980877

DK: +45 7876 8490
SE: +46 8 1241 0952
NO: +47 2195 6342
UK: +44 203 769 6819
US: +1 646-787-0157
SG: +65-3-1591097
FR: +33-1-81221259

The presentation may also be followed via webcast on:

Viewer Registration • Q3 2023

(Viewer Registration • Q3 2023)

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

Kilde

[TekBot]

BW Energy: Completes acquisition of the FPSO Cidade de Vitoria

Completes acquisition of the FPSO Cidade de Vitoria

BW Energy has completed the acquisition of the FPSO Cidade de Vitoria from
…

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Saipem S.p.A. The FPSO is currently producing approximately 10,000 barrels per
day of oil from the Golfinho field offshore Brazil, supported by the Company’s
local operating organisation.

According to the agreement that was entered into in June 2022, BW Energy will
pay Saipem a total of USD 73 million in fixed consideration for the FPSO, of
which USD 38 million was paid in the third quarter 2023. A further USD 35
million will be paid in 18 monthly instalments following the takeover, with the
first instalment already paid.

The FPSO Cidade de Vitoria is a flexible unit with 1.6 million barrels of
storage capacity. The unit, which recently underwent repairs and upgrades, can
produce more than 100,000 barrels per day of oil and has additional capacity for
gas production and compression. It positions BW Energy to efficiently increase
production from the Golfinho cluster with ample oil and gas handling capacity to
accommodate the upside from planned future developments. The FPSO acquisition
will enable BW Energy to reduce the whole field OPEX.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
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 in, a 95% interest in the Maromba field in Brazil and a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. Total net
2P+2C reserves and resources were 546 million barrels of oil equivalents at the
start of 2023, when including the Golfinho Clusters.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

Kilde

[Bigblu]

Fornøyd med prosentvis oppgang på utbytte aksjene mine🤣

[TekBot]

BW ENERGY: DISCLOSURE OF SHAREHOLDINGS AND INTENTION TO LAUNCH MANDATORY OFFER

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

BW Group Limited (“BW Group”) has on 29 November 2023, purchased 250,000 shares in BW Energy Limited (“BW Energy” or the “Company”) at a price of NOK 23.7717 per share pursuant to an all or nothing order placed with a bank. The highest price paid by the bank to fill the order was NOK 24.00. Following this, BW Group holds 103,202,470 shares in the Company, representing 40% of the total shares outstanding and voting rights.
…

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As a result of the transaction, BW Group has an obligation either to reduce its shareholding or to make a mandatory offer to purchase the remaining shares in BW Energy under Chapter 6 of the Norwegian Securities Trading Act (the “STA”). BW Group intends to make a mandatory offer within the four-weeks period set out in the STA.

BACKGROUND AND RATIONALE FOR CROSSING THE 40% THRESHOLD AND MAKING A MANDATORY OFFER:

Following completion of the initial public offering and listing on the Oslo Stock Exchange of BW Energy in February 2020 (the “IPO”), BW Offshore Limited (“BW Offshore”) and BW Group held 38.77% and 35.13%, respectively, of the shares in BW Energy.

Since the IPO, BW Offshore has reduced its shareholding inter alia by in-kind dividend distributions, resulting in BW Group, being a 49.9% shareholder of BW Offshore, increasing its shareholding in BW Energy to 39.90% per 28 November 2023.

As a major shareholder in BW Offshore, BW Group supports BW Offshore’s dividend policy, including its distribution of BW Energy shares as in-kind dividend. In order to facilitate BW Offshore’s continued in-kind dividend distributions, and for the mandatory offer obligation of BW Group under the STA to be triggered at a price predictable to BW Group, BW Group resolved to acquire BW Energy shares in the market to pass the 40% mandatory offer threshold following receipt of BW Energy shares as in-kind dividend from BW Offshore on 28 November 2023.

BW Group is represented on the board of directors of BW Energy by Andreas Sohmen-Pao, the chairman in BW Energy, and this notification is provided in accordance with Sections 4-2 and 6-8 of the STA.

BW Group has retained DNB Markets, a part of DNB Bank ASA, to act as financial adviser and receiving agent in the contemplated mandatory offer for shares in BW Energy.

For further information, please contact:

Sebastien Brochet, Group CFO
BW Group
ea.cfo@bw-group.com

Kilde

[Kaisovski]

Ventet på denne. Helt j… håpløst.

[TekBot]

BW Energy: Mandatory notifications of trade by primary insiders and close associates

Mandatory notifications of trade by primary insiders and close associates

Reference is made to the announcements on 16 November 2023 and 28 November
…

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2023, whereby BW Offshore Limited announced information relating to dividend
payments.

Please see the attached notifications of trading for information of transactions
concerning primary insiders in BW Energy Limited (“BW Energy”) and their close
associates in connection with the dividend distribution.

Further, reference is also made to the announcement on 30 November 2023, whereby
it was announced that BW Group Limited purchased 250,000 shares in BW Energy.

Please see the attached notification of trading for information of the
transaction concerning primary insiders in BW Energy and their close associates
in connection with the share purchase of 250,000 shares.

For further information, please contact:

Knut R. Sæthre, CFO BW Energy

+47 91 11 78 76

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 in, a 95% interest in the Maromba field in Brazil and a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. Total net
2P+2C reserves and resources were 546 million barrels of oil equivalents at the
start of 2023, when including the Golfinho Clusters.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Major Shareholder Disclosure Notification - BW ENERGY LTD

See attachment on www.newsweb.no
…

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Kilde

[Freddys]

Hva forventer du budet på resterende aksjer å bli?
Kan man fortsatt handle instrumentet via børs? Å håpe på en kortsiktig gevinst på det eventuelle budet?

[aTinyHorse]

Det blir det minste de er tvunget til å by, for BW har tydelig vist at de ikke egentlig ønsker å by. Jamfør søknad om å få slippe.

Ja, du kan fortsatt handle.

Kjøp nå om du føler 24 er billig inngang, for kursen går neppe mye under det når BW må by minst det, men noen særlig gevinst fra overraskende stort bud tror jeg er lite trolig.

Jeg solgte meg ut i starten av oktober, rundt 27,og vurderer inngang igjen nå.

[Freddys]

Hva er potensielle risikoen her egentlig?
Ser det ytres stor misnøye opp mot guiding gitt?Samt påstand om manipulasjon ved sist guiding?

Kan de tvangsinnløse?

Å hvor har du informasjonen om at de ikke ønsker å by?

Får inntrykk om at noen mener dette er skittent spill?

har startet å lese om aksjen i dag.

Så dine ord, å kunnskap om selskapet taes imot med stor Takk