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
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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

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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)

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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
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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
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(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

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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

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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
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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

TekBot · april 22, 2025, 5:30am

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

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
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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

Kilde

TekBot · april 25, 2025, 5:31am

BW Energy: Invitation to Q1 2025 results presentation in Oslo on 5 May

Invitation to Q1 2025 results presentation in Oslo on 5 May

BW Energy will release its first quarter 2025 results on Monday, 5 May at 07:30
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CEST.

The Company will hold a presentation followed by Q&A at Hotel Continental in
Oslo, Norway, on the same day at 09:30 CEST. The presentation will include an
extended review of optimisation and development projects in Brazil. It will be
hosted by CEO Carl K. Arnet, CFO Brice Morlot, CSO Thomas Young, CTO Jerome
Bertheau and CCO Thomas Kolanski.

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

Viewer Registration ? Q1 2025 (WN Event
registration/9LwLZF1X/register)

For further information, please contact:

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 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 29, 2025, 8:30am

BW Energy: OTC Markets Group Welcomes BW Energy Limited to OTCQX

OTC Markets Group Welcomes BW Energy Limited to OTCQX

NEW YORK - OTC Markets Group Inc.
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(OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
um=Press%20Release&utm_campaign=New%20OTCQX%20Company) (OTCQX: OTCM), operator
of regulated markets for trading 12,000 U.S. and international securities, today
announced BW Energy Limited
(OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
m=Press+Release&utm_campaign=New+OTCQX+Company) (Oslo Bors: BWE; OTCQX: BWERY,
BWEFF), a growth-focused oil and gas company, has qualified to trade on the
OTCQX® Best Market. BW Energy Limited upgraded to OTCQX from the Pink® market.

BW Energy Limited begins trading today on OTCQX under the symbols “BWERY” and
“BWEFF.” U.S. investors can find current financial disclosure and Real-Time
Level 2 quotes for the company on www.otcmarkets.com
(OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
se&utm_campaign=New%20OTCQX%20Company).

Upgrading to the OTCQX Market is an important step for companies seeking to
provide transparent trading for their U.S. investors. For companies listed on a
qualified international exchange, streamlined market standards enable them to
utilize their home market reporting to make their information available in the
U.S. To qualify for OTCQX, companies must meet high financial standards, follow
best practice corporate governance and demonstrate compliance with applicable
securities laws.

“The OTCQX Market provides a platform for increased recognition and engagement
with a wider base of US investors. BW Energy is a fast-growing oil and gas
company with production and attractive development assets in Gabon, Namibia and
Brazil. We expect cross-trading on OTCQX to create additional long-term value
through a broader US investor base and increased trading volumes in our shares,”
says Carl K. Arnet, the CEO of BW Energy.

About BW Energy Limited
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.

About OTC Markets Group Inc.:
OTC Markets Group Inc.
(OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
edium=Press%20Release&utm_campaign=OTCM%20Earnings) (OTCQX: OTCM) operates
regulated markets for trading 12,000 U.S. and international securities. Our
data-driven disclosure standards form the foundation of our three public
markets: OTCQX(®) Best Market, OTCQB(®) Venture Market, and Pink(®) Open Market.

Our OTC Link(®)?Alternative Trading Systems (ATSs) provide critical market
infrastructure that broker-dealers rely on to facilitate trading. Our
innovative model offers companies more efficient access to the U.S. financial
markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC
regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-
dealer, member SIPC.

To learn more about how we create better informed and more efficient markets,
visit www.otcmarkets.com (http://www.otcmarkets.com).

Subscribe to the OTC Markets RSS Feed
(<![CDATA[OTC Markets Group - News, Filings & Corporate Actions]]>
m=Press+Release&utm_campaign=New+OTCQX+Company)

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
(mailto:media@otcmarkets.com)

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

Kilde

TekBot · mai 2, 2025, 7:01am

BW Energy: 2025 Annual General Meeting - Notice

2025 Annual General Meeting - Notice

Notice is hereby given that the 2025 Annual General Meeting (AGM) of the Members
…

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of BW Energy Limited will be held at 18 Rebecca Road, Southampton, SN04,
Bermuda, on 26 May 2025 at 09:30 a.m. (Bermuda time).

Please see the attached documents in relation to the Annual General Meeting:

Notice of the 2025 AGM

Form of Proxy

Chairman’s Letter

Recommendation from the Nomination Committee

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 published in accordance with the disclosure requirements in
Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian
Securities Trading Act, and the Oslo Rule Book II, as well as in accordance with
Section 4-2 of the Norwegian Securities Trading Act.

Kilde

TekBot · mai 5, 2025, 5:30am

BW Energy: Makes FID on Maromba field development in Brazil

BW Energy makes FID on Maromba field development in Brazil

BW Energy is pleased to announce the final investment decision (FID) for the
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Maromba development offshore Brazil based on a capex-efficient development with
an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The
development targets 500 million barrels of oil in place in the highly delineated
and tested Maastrichtian sands. First oil is planned by end-2027 with expected
plateau production of 60,000 barrels of oil per day. The development will more
than double BW Energy’s total net production by 2028 and has short pay-back
time.

Project highlights:

Initial six production wells from the WHP

The WHP will be a converted drilling jack-up with up to 16 well slots and
production- and test-flowlines connected to the redeployed FPSO BW Maromba
(ex. Polvo)

A second six-well drilling campaign will fully leverage the established
field infrastructure and allow for appraisal and testing of other reservoir
horizons

BW?Maromba refurbishment and life extension work is already underway at the
COSCO yard in China

Total investments of USD ~1.5 billion, split USD ~1.2 billion for the
initial development and a further USD ~0.3 billion for the secondary
drilling campaign

“We have spent time on optimising the Maromba development plan and concluded on
a highly competitive concept with a repurposed jack-up platform and FPSO,
repeating the approach we very successfully applied in Gabon. Maromba will
enable BW Energy to deliver industry-leading organic production growth and
position the Company for further low-cost developments of known potential
developments. We expect to unlock significant shareholder value in all realistic
oil price scenarios,” said Carl K. Arnet, the CEO of BW Energy.

Capex-efficient development concept

The development comprises six initial Maastrichtian horizontal production wells
with dry-trees and artificial lift by downhole Electric Submersible Pumps
(ESPs). Production will be transferred from the WHP to the spread moored FPSO
Maromba for treatment, storage and offloading to shuttle tankers. The WHP will
be installed in ~150 meters of water depth with full drilling facilities. Once
installed, the infrastructure will also enable the planned secondary six-well
drilling campaign and provide potential for future development phases with low-
cost infill wells, potential water injectors as well as allowing appraisal and
production of multiple proven reservoirs outside the main Maastrichtian
resources.

The FPSO Maromba is currently at the COSCO yard in China, undergoing initial
refurbishment and life extension work following completion of condition
assessment and FEED. The FPSO is designed with 1 million barrels of storage
capacity. The total liquid capacity will be 100,000 barrels per day with oil
production capacity of 65,000 barrels per day and water treatment capacity of
85,000 barrels per day.

BW Energy has agreed to acquire a jack-up with complete leg extensions for USD
107.5 million. The rig will undergo a limited conversion to serve as an
integrated drilling and wellhead platform prior to installation on the field.

“The repurposing of existing energy infrastructure enables reduced investments
and shorter time to first oil with significantly reduced greenhouse gas
emissions in the development phase, as compared to installing new production
assets,” said Carl K. Arnet, the CEO of BW Energy.

Attractive field economics

BW Energy expects to invest approximately USD 1 billion before first oil and a
further USD 200 million to complete the initial drilling campaign before end
2028. This will be followed by USD 300 million for the additional six wells in
the second campaign with completion before end 2030.

BW Energy anticipates Maromba to achieve a competitive production cost,
averaging less than USD 10 per barrel over the first five years, underpinning
robust project economics.

Estimated project IRR exceeds 30% at oil at USD 60 per barrel Brent and break-
even at 10% IRR is around USD 40 per barrel Brent. The heavy oil from the
Maromba is expected to trade at a discount to Brent of approximately USD 7.5 per
barrel.

The development will be financed through existing cash and undrawn
facilities, cashflow from operations, and separate infrastructure financing
solutions related to the FPSO and WHP. The Company is also evaluating a range of
financing alternatives, including a corporate facility, reserve-based lending,
trader financing and the potential issuance of bonds.

BW Energy has also received a commitment by the main shareholder BW Group for a
USD 250 million shareholder loan facility.

The Maromba field

Maromba is located 100 km off the Brazilian coast in the Campos Basin. Nine
wells were drilled in the license between 1980 and 2006, with oil found in eight
of these across various reservoirs. The development project targets 123 million
barrels of 2P reserves (management estimates), with potential additional
resources from other reservoirs to be appraised along the development. BW Energy
acquired 100% ownership in Maromba in 2019 for a total of USD 115 million, of
which USD 85 million remains to be paid to the sellers at predefined milestones.
Magma Oil holds a 5% back-in right in the Maromba licence which is expected to
be executed upon first oil.

BW Energy is following all the steps of the approval process with the Brazilian
O&G Regulator (ANP) and with the Environmental Agency (IBAMA). The Company will
now proceed with contracting of long-lead items and services, as well as
finalising the financing agreements.

More information on the Maromba development will be shared in connection with
the first quarter 2025 earnings presentation held at Teatersalen, Hotel
Continental in Oslo, Norway, 09:30 CEST on 5 May.

The presentation can also be followed via webcast on:

VIEWER REGISTRATION ? Q1 2025
Viewer Registration • Q1 2025

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 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, 05 May 2025.

Kilde

TekBot · mai 5, 2025, 5:40am

BW Energy: First quarter results 2025

BW Energy First quarter results 2025

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HIGHLIGHTS

Record Q1 EBITDA of USD 182.1 million, net profit of USD 83 million

Operational cash-flow of USD 154.7 million in the quarter

Q1 gross production of 4.2 mmbbls with 3.2 mmbbls net to BW Energy

Highest quarterly production since inception from the Dussafu licence

Maintained a strong balance sheet with cash position of USD 286.9 million

Substantial oil discovery in the Bourdon prospect

Maromba development FID unlocking path to more than doubling production and
potential for future dividends

BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho
cluster offshore Brazil, reported a record quarterly EBITDA of USD 182.1 million
for the first quarter of 2025. This was up 31% from USD 141.6 million in the
previous quarter on increased oil sales following all-time-high production in
Gabon and higher output in Brazil. The net production was ~36,000 bbls/day,
including the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence
(73.5% working interest or “WI”) and the Golfinho field (100% WI).

“BW Energy delivers a strong first quarter with record production and EBITDA on
the back of sustained stable operations across our asset portfolio in Gabon and
Brazil,” said Carl K. Arnet, the CEO of BW Energy. “The accretive start to 2025
is further underpinned by the Bourdon discovery growing our Dussafu reserves,
FID on the Golfinho Boost adding to production and reducing OPEX, and finally
the Maromba FID. This transformative project is set to unlock industry-leading
production growth and position BW Energy for future shareholder
distributions.”

DUSSAFU

BW Energy completed three liftings in the first quarter at an average realised
price of USD 74.8/bbl. Net production was approximately 2.6 mmbbls of oil and
the net sold volume, the basis for revenue recognition, was approximately 3.2
mmbbls including 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.

Net production from the Dussafu licence averaged ~28,700 bbls/day, an increase
of 5% from the previous quarter. Operating cost (excluding royalties) decreased
to USD 9.9/bbl from USD 11.7/bbl in the fourth quarter due to operational
efficiencies and increased production. Further cost savings are expected as BW
Energy is preparing to take over the operations of the BW Adolo FPSO during the
current quarter.

On 2 January 2025, Phase 1 of the Hibiscus / Ruche development was completed
with eight producing wells, two more than planned at project sanction.

GOLFINHO

Net production from the Golfinho field averaged ~7,300 bbls/day equivalent to a
total production of 657,000 bbls in the quarter, up 12% from the previous
quarter as gaslift resumed after completion of Petrobras maintenance. One
lifting was carried out of ~500,000 bbls at a realised price of USD 75/bbl.
Remaining inventory was approximately 597,750 bbls at the end of the period.
Operating cost (excluding royalties) averaged USD 42.2/bbl barrel, down from
56.4/bbl in the fourth quarter, primarily due to higher production. In early
April, the Brazilian oil and gas regulator ANP extended the production phase
under the Golfinho concession contract, which has been extended to 2042 from
previously 2031.

OTHER ITEMS

On 28 March, BW Energy entered into an up to USD 500 million Reserve Based
Lending (RBL) facility, replacing the 2022 facility which was increased to USD
300 million in 2023. The facility has an initial commitment of USD 400 million,
which can be expanded with an additional USD 100 million subject to mutual
agreement and satisfaction of customary conditions precedent. The senior secured
long-term debt facility matures on 1 October 2030.

At 31 March 2024, BW Energy had a cash balance of USD 286.9 million, compared to
USD 221.8 million at end-December. The increase reflects cash flow from
operations less debt repayment and investments in the period. The Company had a
total drawn debt balance of USD 599 million including the MaBoMo lease, the
Dussafu RBL, the Golfinho prepayment facility and bond debt.

Production guidance for 2025 is unchanged at between 11 and 12 mmbbls net to BW
Energy. Expected full-year operating cost is maintained at USD 18 to 22/bbl (the
basis for calculating unit operating cost has been revised from 2025 onwards to
exclude royalties, tariffs, workovers, domestic market obligation purchases,
production sharing costs, and incorporates the impact of IFRS 16 adjustments,
primarily impacting Gabon operations). Net capital expenditures for 2025 are
expected at USD 650-700 million, up from USD 260 to 285 million previously. The
increased follows the FIDs for the Maromba development and the Golfinho Boost
project.

DEVELOPMENT PLANS

BW Energy confirmed a substantial oil discovery with good reservoir and fluid
quality in the Bourdon prospect offshore Gabon. Management estimates indicate
56 million barrels oil in place, of which approximately 25 million barrels are
considered recoverable, potentially through a future development cluster
following the MaBoMo blueprint. The discovery will enable the Company to book
additional reserves not included in its 2024 Statement of Reserves.

Work on optimising Golfinho production continued to focus on stabilising FPSO
performance and selected future well workovers. In mid-April, BW Energy made FID
on the Golfinho Boost project with planned investments of USD 107 million. The
project is set to add 3 kbbls/day of incremental production and 12 mmboe of
further reserves, while also increasing production uptime and reducing OPEX with
first oil planned in the second half of 2027.

BW Energy has also made FID for the Maromba development offshore Brazil based on
a capex-efficient, phased development with a wellhead platform (WHP) and FPSO.
The development targets 500 million barrels of oil in place in the highly
delineated Maastrichtian sands. First oil is planned in the second half of 2027
with expected plateau production of 60,000 barrels of oil per day, enabling
short pay-back time and more than doubling BW Energy’s total net production by
2028.

In Namibia, BW Energy continued to prepare for an appraisal well targeting the
Kharas Prospect northwest in the Kudu licence with planned start-up drilling
operations in the second half of 2025. Long-lead items have been procured and
the Company is reviewing offers for rig capacity.

REPORTS AND PRESENTATION

Please find the first-quarter earnings presentation attached. The reports are
also available at:

www.bwenergy.no/investors/reports-and-presentations
(http://www.bwenergy.no/investors/reports-and-presentations)

BW Energy will today hold a live presentation at Hotel Continental, Oslo,
Norway, and conference call followed by a Q&A hosted by CEO Carl K. Arnet, CFO
Brice Morlot, CSO Thomas Young, CTO Jerome Bertheau and CCO Thomas Kolanski at
09:30 CEST.

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

VIEWER REGISTRATION ? Q1 2025 (WN Event
registration/9LwLZF1X/register)

Please note, that if you follow the webcast via the above URL, you will
experience a 30 second delay compared to the main conference call. The Web page
works best in an updated browser - Chrome is recommended.

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

Kilde

TekBot · mai 20, 2025, 3:01pm

BW Energy: Successful handover of BW Adolo operations to BW Energy Gabon SA

Successful handover of BW Adolo operations to BW Energy Gabon SA

BW Offshore Limited (“BW Offshore”) and BW Energy Limited (“BW Energy”) announce
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that, with effect from 20 May 2025, operations and maintenance (“O&M”) of the
FPSO BW Adolo have been handed over to BW Energy’s subsidiary, BW Energy Gabon
SA (“BW Energy Gabon”).

Under an amended bareboat charter, BW Offshore’s subsidiary retains ownership of
the unit and will continue to lease the FPSO to BW Energy Gabon on the same
terms as previously agreed without the O&M services. The charter includes a
mutual put-and-call option on the FPSO for USD 100 million, exercisable in
2028. The parties have been working and will continue to work together on the
transition until 30 June 2025 to ensure a safe and uninterrupted transfer of
operations.

“Transferring daily operational control of BW Adolo to BW Energy Gabon is a
natural step given their growing presence in Gabon and potential to capture
efficiencies across the local organisation,” said Marco Beenen, the CEO of BW
Offshore. “The seamless execution reflects the commitment of both teams to
safeguard personnel, the environment, and asset integrity.”

“Assuming full O&M responsibility will allow BW Energy Gabon to optimise field
performance and capture additional synergies across the Dussafu hub. We thank BW
Offshore for its exemplary stewardship of the vessel and its continued support
during the transition phase,” said Carl K. Arnet, the CEO of BW Energy.

Both companies extend their appreciation to all offshore and onshore personnel
who have maintained BW Adolo in a safe and efficient manner over the past seven
years and look forward to sustained strong operational performance under BW
Energy’s leadership. The unit remains deployed on the Dussafu Marin licence
offshore Gabon, where it has produced safely since first oil in 2018.

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 · mai 22, 2025, 6:01am

2025 Annual General Meeting - Notice

2025 Annual General Meeting - Notice

Notice is hereby given that the 2025 Annual General Meeting (AGM) of the Members
…

Vis børsmeldingen

of BW Energy Limited will be held at 18 Rebecca Road, Southampton, SN04,
Bermuda, on 26 May 2025 at 14:00 AST.

Please see the attached documents in relation to the Annual General Meeting:

Notice of the 2025 AGM

Form of Proxy

Chairman’s Letter

Recommendation from the Nomination Committee

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 published in accordance with the disclosure requirements in
Regulation EU 596/2014 (MAR) article 19, section 5-12 of the Norwegian
Securities Trading Act, and the Oslo Rule Book II, as well as in accordance with
Section 4-2 of the Norwegian Securities Trading Act.

Kilde

TekBot · mai 27, 2025, 6:30am

BW Energy: Annual General Meeting 2025 - Minutes

Annual General Meeting 2025 - Minutes

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The Annual General Meeting 2025 of BW Energy Limited was held today.

Please see the attached document for the minutes of the meeting.

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 the Norwegian Securities Trading Act

Kilde

TekBot · juni 6, 2025, 5:30am

BW Energy: Fixed Income Investor Meetings

Fixed Income Investor Meetings

06 June 2025
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BW Energy has engaged Pareto Securities as Global Coordinator together with
Arctic Securities as Joint Bookrunners to arrange a series of fixed income
investor meetings. Fearnley Securities and Sparebank1 Markets are acting as Co-
Managers. Subject to inter alia market conditions and acceptable terms, a new
senior unsecured bond issue of USD 300 million with a tenor of five years may
follow. The purpose of the bond issue is for general corporate purposes. Holders
of BWE01 bonds will be offered to roll-over their bonds into the new
contemplated bond issue.

BW Group (76.5% shareholder and primary insider through Mr. Andreas Sohmen-Pao)
has the intention to subscribe and be allocated USD 100 million in the new bond
including roll-over of USD 38.5 million of their existing BWE01 bonds. CEO Carl
Arnet will also subscribe and be allocated USD 2.5 million in the new bond
including roll-over of USD 2 million of his existing BWE01 bonds.

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 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, 06 June 2025

Kilde