BW Energy

TekBot · februar 6, 2025, 12:03pm

Financial calendar

TekBot · februar 18, 2025, 2:45pm

BW Energy: Notification of trade by close associate to primary insider

TekBot · februar 26, 2025, 6:31am

BW Energy Limited: Annual report 2024

Annual report 2024

BW Energy today published its annual report for the financial year ended 31
…

Vis børsmeldingen

December 2024. BW Energy also published the Board-approved report on payments to
governments and the annual statement of reserves for 2024. Please find the
reports attached.

The reports are also available at: www.bwenergy.no/investors/reports-and-
presentations (Reports and Presentations | BWEnergy)

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com (mailto:ir@bwenergy.com)

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 of the Norwegian Securities Trading Act.

Kilde

TekBot · mars 7, 2025, 6:31am

BW Energy: Substantial oil discovery made on the Bourdon prospect

Substantial oil discovery made on the Bourdon prospect

…

Vis børsmeldingen

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.

Kilde

TekBot · mars 14, 2025, 8:00pm

BW Energy: Mandatory Notification of Trade - Exercise of existing Restricted Share Units (RSUs)

Mandatory Notification of Trade - Exercise of existing Restricted Share Units
(RSUs)

…

Vis børsmeldingen

Under BW Energy Limited’s (“BW Energy” or the “Company”) Long Term Incentive
Program (LTIP), 71,721 RSUs from the prior years’ grants have been vested and
exercised. In accordance with the terms and conditions of the RSUs, the Board of
Directors has decided to settle the RSUs by issuing shares to the RSU holders.
Each RSU gives a right to acquire one share in the Company at a subscription
price equal to the nominal value of the shares, being USD 0.01.

The settlement of RSUs and the total number of RSUs, options and shares held by
the relevant primary insiders following the exercise are as set out below:

Carl K. Arnet, Chief Executive Officer has exercised 43,167 RSUs and
received 43,167 shares. Following this, Mr. Arnet controls 3,959,177 shares
in the Company and holds 0 RSUs and 2,800,000 options.

Thomas Kolanski, Chief Commercial Officer has exercised 14,277 RSUs and
received 14,277 shares. Following this, Mr. Kolanski controls 15,150 shares
in the Company and holds 0 RSUs and 596,500 options.

Thomas Young, Chief Strategy Officer has exercised 14,277 RSUs and received
14,277 shares. Following this, Mr. Young controls 52,162 shares in the
Company and holds 0 RSUs and 596,500 options.

Following this settlement, BW Energy has a total of 0 outstanding RSUs and
5,820,400 options.

For further information, please contact:

Brice Morlot, CFO BW Energy, 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, and 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 580 million barrels of oil equivalent at the start of 2024.

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

Kilde

TekBot · mars 14, 2025, 8:16pm

BW Energy: Issuance of shares

Issuance of shares

Reference is made to the stock exchange announcement published earlier today by
…

Vis børsmeldingen

BW Energy Limited (“BW Energy” or the “Company”) regarding the settlement of
RSUs by issuance of shares in the Company in order to settle RSUs under BW
Energy’s Long Term Incentive Program (LTIP).

Following the issuance of shares, there are 258,066,021 issued shares in the
Company, each with a nominal value of USD 0.01, all of which have been validly
and legally issued and fully paid.

For further information, please contact:

Brice Morlot, CFO BW Energy, 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, and 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 580 million barrels of oil equivalent at the start of 2024.

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

Kilde

TekBot · mars 28, 2025, 3:10pm

BW Energy: Enters into new increased Reserve Based Lending facility

BW Energy enters into new increased Reserve Based Lending facility

BW Energy is pleased to announce an up to USD 500 million Reserve Based Lending
…

Vis børsmeldingen

(RBL) facility. The new facility replaces the USD 200 million RBL from 2022,
which was increased to USD 300 million in 2023. The funds will be used together
with cash-flow from operations to finance the further development of the
Company.

The facility has an initial commitment of USD 400 million, which can be expanded
with an additional USD 100 million. The senior secured long-term debt facility
matures on 1 October 2030.

“We are pleased to conclude the amend, extend and increase of the RBL with
strong interest from several international banks. The increased facility
provides further liquidity to finance BW Energy’s development activities and
drive our future production growth and long-term value creation, at a
competitive interest margin,” said Brice Morlot, the CFO of BW Energy.

Mauritius Commercial Bank Limited is the Facility Agent for the RBL facility,
while SCB and Rand Merchant Bank are Joint Technical banks. The syndicate
further includes NedBank Group and ABSA Group (documentation bank), alongside
SHELL, the offtaker of oil from the Dussafu license.

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com

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 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 2, 2025, 5:30am

BW Energy: granted extension to the Golfinho licence production phase to 2042 by ANP

BW Energy granted extension to the Golfinho licence production phase to 2042 by
ANP

…

Vis børsmeldingen

BW Energy is pleased to announce the extension of the Golfinho licence by
Brazilian oil and gas regulator ANP. The production phase under the Golfinho
concession contract has been extended to 2042 from previously 2031, following
ANP’s approval of the Company’s field development plan in November 2024.

“The extension supports our long-term plans for developing the Golfinho field,
initially through improved operational performance of existing infrastructure
and later targeting several proven low risk in-field development opportunities.
We see a significant potential for long-term value creation at Golfinho” said
Carl K. Arnet, the CEO of BW Energy.

BW Energy is the operator with 100% working interest in the Golfinho licence
following the August 2023 acquisition of the Golfinho and Camarupim Clusters. It
is located in the Espírito Santo Basin with water depths between 1,300 and
2,200 metres. Hydrocarbons are produced to the FPSO Cidade de Vitória, which BW
Energy acquired and has operated since November 2023. The field has been
producing since 2007.

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com (mailto:ir@bwenergy.com)

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 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 14, 2025, 9:31am

BW Energy: Makes Final Investment Decision for the Golfinho Boost project in Brazil

BW Energy makes Final Investment Decision for the Golfinho Boost project in
Brazil

…

Vis børsmeldingen

BW Energy is pleased to announce final investment decision (FID) for the
Golfinho Boost project, aiming to increase uptime, reduce operating expenses and
add approximately 3,000 barrels per day of incremental oil production from 2027
at the Golfinho field offshore Brazil.

The project includes multiple measures aimed at boosting production efficiency
and increasing recoverable reserves by approximately 12 million barrels. The
measures include upgrades to the subsea boosting system by replacing gas lift
with Electrical Submersible Pumps (ESPs) at the seabed, reopening of shut-in
wells, umbilicals replacement, improved field logistics and FPSO capacity
enhancements. The total investment budget is USD 107 million.

“BW Energy continues to strengthen its position in Brazil through targeted
measures on the Golfinho field to increase production, uptime and operational
independence. The planned low-risk enhancements to field assets and operations
offer very attractive returns and are expected to help unlock material long-term
value creation for the company and its stakeholders,” said Carl K. Arnet, the
CEO of BW Energy.

The Golfinho field is in the Espírito Santo Basin with water depths between 800
and 1,700 metres. BW Energy is the operator with 100% working interest in the
Golfinho licence following the August 2023 acquisition of the Golfinho and
Camarupim Clusters. Hydrocarbons are produced to the FPSO Cidade de Vitória,
which BW Energy acquired and has operated since November 2023. The field has
been producing since 2007.

More information on the Golfinho Boost project will be shared in connection with
the first quarter 2025 earnings release and presentation to be held at Hotel
Continental in Oslo, Norway, on 5 May.

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com (mailto:ir@bwenergy.com)

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 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 15, 2025, 5:31am

BW Energy: Q1 2025 operational update

Q1 2025 operational update

BW Energy will publish financial figures for Q1 2025 and host a presentation at
…

Vis børsmeldingen

Hotel Continental, Oslo, on Monday, 5 May 2025.
Net production to BW Energy was 3.2 million barrels of oil (mmbbls) in Q1 2025,
equal to 36,000 bbls per day, from the Dussafu licence in Gabon (73.5% working
interest) and the Golfinho field (100% working interest) in Brazil.

Volume (mmbbls) Q1 2025 Q4 2024

Net Production 3.2 3.1

Dussafu 2.6 2.5

Golfinho 0.7 0.6

Net volume sold 3.7 3.2

Dussafu* 3.2 2.7

Golfinho 0.5 0.5

Average realised price (USD/bbl)

Dussafu 74.8 72.5

Golfinho 75.0 83.5

*Includes State Profit Oil and DMO deliveries

DUSSAFU

Record quarterly production since inception

Eight producing Hibiscus / Ruche wells, and all Tortue wells on-line

Q1 production availability ~93% on FPSO BW Adolo, and ~99% on MaBoMo

3 liftings to BW Energy, 1 lifting to GOC / State according to plan

Operating cost1 of USD 9.9/bbl

Net volume sold (basis for revenue recognition), included 65,000 bbls of DMO
deliveries and 320,889 bbls of state profit oil, with an over-lift position
of 350,893 bbls at period-end

Takeover of BW Adolo FPSO operations ongoing with planned completion of
transition period in Q2 2025

Substantial oil discovery with good reservoir quality made on the Bourdon
prospect with initial data indicating the potential for establishing a new
development cluster with a production facility

GOLFINHO

Inventory at period end of 597,750 bbls

Operating cost1 of USD 42.2/bbl primarily due to increased production

Production positively impacted by resumed gaslift after completion of
Petrobras maintenance

Q1 production availability ~84% on FPSO Cidade de Vitória

Final investment decision (FID) made for the Golfinho Boost project aiming
to increase uptime, reduce operating expenses and add approximately 3,000
barrels per day of incremental oil production from 2027

MAROMBA

BW Energy expects to announce FID on the Maromba development project within
the next few weeks

HEDGING, LIQUIDITY AND DEBT

Oil hedging: Q1 net loss of USD 0.9 million from oil derivatives (USD 2.1
million unrealised loss and USD 1.2 million realised gain)

Period-end cash balance of USD 286 million vs. USD 221 million end-December
2024, with the change reflecting cash flow from operations, debt repayment
and investments

Entered into a new and increased Dussafu RBL facility
Period-end gross debt of USD 583 million includes MaBoMo lease, Dussafu RBL,
Golfinho prepayment facility and bond debt

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

Operational costs exclude royalties, tariffs, workovers, domestic market
obligation purchases, production sharing costs in Gabon, and incorporates the
impact of IFRS 16 adjustments

Kilde