Okea Småprat

TekBot · april 19, 2024, 12:00pm

OKEA ASA - Notice of annual general meeting

(Trondheim, 19 April 2024) OKEA ASA (OSE: OKEA): The annual general meeting in
OKEA ASA will be held on Tuesday 14 May 2024 at 09:00 (CEST) as a virtual
meeting.
…
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The general meeting will be conducted as a virtual meeting only, accessible
online via Lumi AGM. All shareholders will be able to participate in the
meeting, vote and ask questions from smartphones, tablets or desktop devices.
For further information regarding electronic participation, please refer to the
guide available on https://www.okea.no/investor/general-meeting/.

The deadline for notice of attendance, registration of advance votes and proxies
is 10 May 2024 at 4:00 pm (CEST) as further described in the notice.

Please find attached the following documents:
OKEA - Notice of annual general meeting 2024

OKEA - Revised guidelines for remuneration of leading persons 2024

OKEA - Report on remuneration of leading persons 2023

OKEA - Proposal from nomination committee
All documents to be processed in the meeting, including annual report for
2023, are available on:

www.okea.no/investor/general-meetings/

For further information, please contact:

VP IR & Communication, Anca Jalba

anca.jalba@okea.no

+47 41 08 79 88

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information is available at ww.okea.no

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

Kilde

TekBot · april 24, 2024, 11:47am

OKEA webcast Q1 2024

OKEA ASA will release its first quarter 2024 results tomorrow Thursday 25 April
2024 at 06:00 CET.

…

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A presentation of the results will be held the same day through a webcast and
audio conference starting 10:00 CET. The presentation will be held by Svein J.
Liknes (CEO) and Birte Norheim (CFO).
The webcast can be followed at www.okea.no
or OKEA Webcast Q1 2024
(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2024042
5_11)
Dial in details for the audioconference:

DK: +45 7876 8490

SE: +46 8 1241 0952

NO: +47 2195 6342

UK: +44 203 769 6819

US: +1 646-787-0157

PIN Code: 681934

For further information, please contact:
Anca Jalba, VP IR

anca.jalba@okea.no

+47 410 87 988

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

Kilde

TekBot · april 25, 2024, 4:00am

OKEA ASA - First quarter 2024 financial results

(Trondheim, 25 April 2024) - OKEA ASA (OSE: OKEA) delivered operating income of
NOK 3,474 (2,118) (correction from trading update of NOK 3,422) million and
EBITDA of NOK 2,159 (1,661) million in the first quarter of 2024. The cash
…

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balance amounted to NOK 2,130 (2,301) million. An impairment charge of NOK 158
million was recognised in the quarter which comprises NOK 260 million of
goodwill impairments from Statfjord, partly offset by NOK 102 million in
reversal of previous impairments at Yme.

(Amounts in parentheses refer to previous quarter)

“The all-time high production in the quarter follows from the Statfjord
acquisition in combination with continued strong performance particularly from
our operated assets. At Statfjord we are collaborating closely with the operator
to improve production. In March, an investment decision was made for the Bestla
field. Bestla is estimated to hold 24 million barrels of oil equivalent in
recoverable reserves and will be developed as a tie-back to the Brage field.
With OKEA as operator for both licenses, this will enhance synergies and
economies of scale for both fields. As announced separately this morning, we are
contemplating a new USD 125 million four-year senior secured bond to strengthen
liquidity and enhance financial flexibility ahead of investments in the Bestla
development”, stated OKEA CEO Svein J. Liknes.

First quarter 2024 summary

The all-time high net production to OKEA of 42.1 (30.1) kboepd in the quarter
was largely driven by Statfjord area activities included in income statement and
key figures. OKEA operated assets continue to perform well with additional
volumes at Draugen from Hasselmus. Production from Yme, Ivar Aasen and Nova was
stable throughout the quarter. Production at Gjøa was reduced following closing
of one well due to sand production.

Sold volumes in the quarter amounted to 46.6 (25.6) kboepd. The increase
compared to previous quarter was mainly due to Statfjord volumes and underlift
positions at Ivar Aasen and Brage being lifted in the quarter.

The average realised liquids price was USD 82.0 (83.4) per boe and the average
realised price for gas was USD 55.1 (74.6) per boe. USD 7.5 (5.9) per boe of the
realised gas price was attributable to gain on fixed price contracts.

Other operating income / loss (-) of NOK 53 (81) million mainly consisted of
tariff income at Gjøa and Statfjord area of NOK 78 (33) million. This was partly
offset by a net hedging loss for oil and CO2 quotas of NOK 17 (net gain of 12)
million and an increase in fair value of the contingent considerations to
Wintershall Dea and Equinor of NOK 9 (unrealised income of 26) million following
an increase (decrease) in forward prices for crude oil.

An impairment charge of NOK 158 (1,876) million was recognised in the quarter.
NOK 247 million related to impairment of technical goodwill from the Statfjord
area mainly driven by lower expected volumes in 2024. In addition, PPA revisions
recognised in the quarter resulted in impairment of ordinary goodwill of NOK 13
million. The goodwill impairments are not tax deductible and are non-reversable.
Partly offsetting was NOK 102 million in reversal of previous impairments at Yme
following positive market price developments of crude during the quarter
combined with a decrease in expected discount for Yme crude.

Exploration and evaluation expenses amounted to NOK 50 (22) million. General and
administrative expenses amounted to NOK 41 (37) million and represent OKEA’s
share of costs after allocation to license activities.

Cash and cash equivalents amounted to NOK 2,130 (2,301) million. Interest
-bearing bond loans amounted to NOK 1,327 (1,246) million and relate to the
OKEA04 bond.

2024 production guidance remains unchanged to 35 - 40 kboepd. As capex guidance
includes sanctioned projects only, guidance for 2024 increases to NOK 3.2 - 3.7
billion from NOK 2.8 - 3.3 billion following the investment decision for the
Bestla development project in March.

OKEA is contemplating a new 4-year senior secured bond with an initial issue
amount of USD 125 million, subject to inter alia market conditions. Net proceeds
from the contemplated bond issue will be used to fund planned investments on the
recently sanctioned Bestla development and general corporate purposes. Please
see separate stock exchange notice for further information.

Webcast and audioconference
A presentation of the results will be held today through a webcast and
audioconference starting 10:00 CET. The presentation will be held by Svein J.
Liknes (CEO) and Birte Norheim (CFO).
The webcast can be followed at www.okea.no
or OKEA Webcast Q1 2024
(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2024042
5_11)
Dial in details for the audioconference:
NO: +47 2195 6342
DK: +45 7876 8490

SE: + 46 8 1241 0952

UK: +44 203 769 6819
US: +1 646-787-0157

PIN Code: 681934

For further information, please contact:
Anca Jalba, VP IR

anca.jalba@okea.no

+47 410 87 988

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

Kilde

TekBot · april 25, 2024, 4:00am

OKEA ASA: Fixed Income Investor Meetings for Contemplated Senior Secured Bond

(Trondheim, 25 April, 2024): OKEA ASA (OSE: OKEA) (“OKEA” or the “Company”) has
mandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS as Joint
Global Coordinators and Joint Bookrunners and Arctic Securities AS as Joint
…

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Bookrunner to arrange a series of fixed income investor meetings commencing
today.

A new 4-year senior secured bond with an initial issue amount of USD 125 million
may follow, subject to inter alia market conditions. Net proceeds from the
contemplated bond issue will be used to fund planned investments related to the
recently sanctioned Bestla (previously named Brasse) development and general
corporate purposes. In connection with the bond issue, the Company expects to
increase its super senior revolving credit facility from USD 25 million to USD
37.5 million (the “SSRCF”). No amounts are currently drawn under the SSRCF.

This information is considered to be inside information pursuant to Regulation
EU 596/2014 (MAR) and is subject to the disclosure requirements pursuant to MAR
article 17 and section 5-12 of the Norwegian Securities Trading Act. The
information was submitted for publication by Anca Jalba, VP Investor Relations,
OKEA ASA on 25 April 2024 at 06:00.

For further information, please contact:

Birte Norheim, CFO
Birte.norheim@okea.no
+47 952 93 321

Anca Jalba, VP Investor Relations
Anca.jalba@okea.no
+47 410 87 988

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information at www.okea.no

Kilde

TekBot · april 30, 2024, 11:56am

OKEA ASA: Successful Placement of Senior Secured Bond Issue

(Trondheim, 30 April, 2024): OKEA ASA (OSE: OKEA) (“OKEA” or the “Company”) has
successfully placed a new USD 125 million senior secured bond issue with a tenor
of 4 years. The new bond will carry a fixed interest rate of 9.125% per annum.
…

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The transaction attracted strong interest from Nordic and international
investors and was significantly oversubscribed.

Net proceeds from the bond issue will be used to fund planned investments
related to the recently sanctioned Bestla (previously named Brasse) development
and general corporate purposes. In connection with the bond issue, the Company
expects to increase the size of its super senior revolving credit facility (the
“SSRCF”) from USD 25 million to USD 37.5 million and extend the tenor for parts
of the facility. No amounts are currently drawn under the SSRCF.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS acted as Joint
Global Coordinators and Joint Bookrunners, and Arctic Securities AS as Joint
Bookrunner, in connection with the bond issue.

For further information, please contact:

Birte Norheim, CFO
birte.norheim@okea.no
+47 952 93 321

Anca Jalba, VP Investor Relations
anca.jalba@okea.no
+47 410 87 988

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information at www.okea.no

Kilde

pleximus83 · mai 7, 2024, 3:58pm

TekBot · mai 14, 2024, 11:01am

OKEA ASA - Minutes of annual general meeting

(Trondheim, 14 May 2024) OKEA ASA (OSE: OKEA): On 14 May 2024 at 09:00 CET OKEA
ASA held an annual general meeting as a virtual meeting with online
participation.
…

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All proposals on the agenda were adopted. The minutes of meeting are attached
and also available on General meetings - OKEA.

At the general meeting, Chaiwat Kovavisarach was re-elected as chairman of the
board for a period of two years. The board of directors in OKEA ASA subsequently
consists of the following shareholder-elected members:

· Chaiwat Kovavisarach (Chairman)
· Mike Fischer (vice chair)
· Rune Olav Pedersen
· Nicola Gordon
· Finn Haugan
· Jon Arnt Jacobsen
· Phatpuree Chinkulkitnivat
· Elizabeth Williamson

For further information, please contact:

VP Legal, Marit Moen Vik-Langlie

marit.viklanglie@okea.no

+47 407 63 671

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information is available at www.okea.no

Kilde

dagulvin · juni 8, 2024, 6:07pm

Nå har det lenge vært veldig stille fra OKEA. Har OKEA blitt mer skeptiske til å kjøpe produserende oljefelt etter Stafjordfiaskoen?

TekBot · juli 9, 2024, 6:02am

Invitation to OKEA second quarter 2024 conference call

(Trondheim, 9 July 2024) OKEA ASA (OSE: OKEA) OKEA will publish its financial
report for the second quarter of 2024 on Wednesday 17 July at 06:00 CEST. A
trading update summarising key figures for the quarter will be published on 10
…

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July at 08:00 CEST.

A presentation of the results will be held on 17 July through a webcast and
audioconference starting 10:00 CEST. The presentation will be held by Svein J.
Liknes?(CEO) and Birte Norheim (CFO).

The webcast?can be followed at www.okea.no
or?OKEA Webcast Q2 2024
(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2024071
7_1)

Dial in details for the audioconference:

DK: +45 7876 8490

SE: +46 8 1241 0952

NO: +47 2195 6342

UK: +44 203 769 6819

US: +1 646-787-0157

PIN Code: 681934

For further information, please contact:
Birte Norheim, CFO
birte.norheim@okea.no (anca.jalba@okea.no)
+47?952 93?321

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

Kilde

TekBot · juli 10, 2024, 6:01am

OKEA second quarter 2024 trading update

(Trondheim, 10 July 2024) OKEA ASA (OSE: OKEA) will publish its financial report
for the second quarter of 2024 on Wednesday 17 July at 06:00 (CEST). This
trading update is provided to summarise production and sales volumes and related
…
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topics and updates for the quarter.

Second quarter 2024 production and sales
                                    Unit     Q2 2024*  Q1 2024
Total operating income MNOK 2,584 3,474
Realised liquids price USD/boe 79.7 82.0
Realised gas price USD/boe 65.7 55.1
Net production Boepd 38,357 42,107
Net production - liquids Boepd 29,160 31,286
Net production - gas Boepd 9,197 10,821
Third-party volumes available for sale Boepd -43 0
Over/underlift/inventory adjustments Boepd -5,063 4,477
Net sold volume* Boepd 33,294 46,583
Net sold volumes - liquids Boepd 24,711 36,219
Net sold volumes - gas* Boepd 8,583 10,365
Unit Q2 2024 Q1 2024
Cash and cash equivalents MNOK 3,182 2,130
Interest bearing bonds MNOK 2,614 1,327

*Includes received compensation volumes from Duva and Nova (tie-in to Gjøa)

Impairments

A technical goodwill impairment on the Statfjord assets in the range of NOK 100

140 million is expected to be recognised in the quarter. The technical
goodwill impairment is mainly a result of change in risking of future projects.
Technical goodwill arises as an offset to the deferred tax recognised in
business combinations and is not tax deductible.

In addition, an impairment in the range of NOK 130-160 million is expected to be
recognised on the Yme asset following reduced forward prices for crude oil.

Disclaimer
The information contained in this statement is based on a preliminary assessment
of the company’s second quarter 2024 financial and operational results and may
be subject to change.

Second quarter 2024 financial report to be published on 17 July
OKEA will release its second quarter 2024 results on Wednesday 17 July at 06:00
CEST. A presentation of the results will be held on the same day through a
webcast and audioconference starting 10:00 CEST (OKEA Webcast Q2 2024
(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2024071
7_1)). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim
(CFO).

For further information, please contact:
Birte Norheim, CFO
birte.norheim@okea.no
+47?952 93?321

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline. OKEA is listed on the
Oslo Stock Exchange (OSE:OKEA) More information at www.okea.no

Kilde

TekBot · juli 17, 2024, 4:02am

OKEA ASA - Second quarter 2024 financial results

(Trondheim, 17 July 2024) - OKEA ASA (OSE: OKEA) delivered operating income of
NOK 2,584 (3,474) million and EBITDA of NOK 1,617 (2,159) million in the second
quarter of 2024. An impairment charge of NOK 267 (158) million was recognised,
…

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comprising NOK 121 (247) million technical goodwill impairment of the Statfjord
area and NOK 144 (reversal of 102) million impairment on the Yme asset. Cash and
cash equivalents amounted to NOK 3,182 (2,130) million.

(Amounts in parentheses refer to previous quarter)

“I am very pleased that the strong performance, particularly from our operated
assets, is continuing. We delivered the PDO for the Bestla development project
to the Ministry of Energy in April, a project that will be developed as a tie
-back to the Brage field and is estimated to hold 24 million barrels of oil
equivalent in recoverable reserves. The Bestla development aligns well with our
strategy to create additional value in areas close to existing infrastructure by
identifying cost-effective solutions that enable extraction of further volumes.
The Bestla development, along with the continued drilling activities around
Brage, are important supporters for the lifetime extension project for Brage
which was initiated in the previous quarter”, stated OKEA CEO Svein J. Liknes.

Second quarter 2024 summary

Net production to OKEA was 38.4 (42.1) kboepd in the quarter. The lower volumes
compared to previous quarter was largely driven by a prior period adjustment
equivalent to 1,145 bopd recognised in the first quarter, natural decline in
wells at Brage, and a 60-day turnaround at Statfjord A completed during the
quarter.

Sold volumes amounted to 33.3 (46.6) kboepd in the quarter. The lower volumes
sold was mainly due to underlift positions from several fields in the quarter
compared to overlift positions in the previous quarter.

The average realised liquids price was USD 79.7 (82.0) per boe, and the average
realised price for gas was USD 65.7 (55.1) per boe. USD 10.4 (7.5) per boe of
the realised gas price was attributable to gain on fixed price contracts. Total
income from sale of petroleum products amounted to NOK 2,442 (3,421) million.

Other operating income of NOK 142 (53) million mainly consisted of tariff income
at Gjøa and Statfjord area of NOK76(78)million and change in fair value of the
contingent considerations to Wintershall Dea and Equinor of NOK 60 (loss of 9)
million following a decrease (increase) in forward prices for crude oil.

An impairment charge of NOK 267 (158) million was recognised in the quarter. NOK
121 (247) million related to impairment of technical goodwill of the Statfjord
area driven by revised risking of less matured projects. The goodwill
impairments are not tax deductible and are non-reversable. In addition, an
impairment of NOK 144 (reversal of 102) million of Yme was recognised following
a decrease in forward prices for crude oil.

Exploration and evaluation expenses amounted to NOK 210 (50) million and mainly
related to expensing of previously capitalised costs on PL938 Calypso. General
and administrative expenses amounted to NOK 33 (41) million and represent OKEA’s
share of costs after allocation to license activities.

Cash and cash equivalents amounted to NOK 3,182 (2,130) million. Interest
-bearing bond loans amounted to NOK 2,614 (1,327) million. The increases are
largely due to issuance of the USD 125 million OKEA05 bond in May.

2024 production guidance is narrowed somewhat to 36 - 40 kboepd from 35 - 40
kboepd, and capex guidance is narrowed to NOK 3.2 - 3.6 billion from NOK 3.2 -
3.7 billion.

Webcast and audioconference
A presentation of the results will be held today through a webcast and
audioconference starting 10:00 CET. The presentation will be held by Svein J.
Liknes(CEO) and Birte Norheim (CFO).
The webcastcan be followed at www.okea.no
orhttps://channel.royalcast.com/landingpage/hegnarmedia/20240717_1/

Dial in details for the audioconference:
NO: +47 2195 6342
DK: +45 7876 8490

SE: + 46 8 1241 0952

UK: +44 203 769 6819
US: +1 646-787-0157

PIN Code: 681934

For further information, please contact:
Birte Norheim, CFO
birte.norheim@okea.no
+47?952 93?321

About OKEA
OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

Kilde

TekBot · august 15, 2024, 3:00pm

Completed purchases under board compensation package and mandatory notification of trade

Trondheim, 15 August 2024. OKEA ASA (the “Company”, or “OKEA”, ticker: “OKEA”)
has today completed a share purchase on behalf of the members of the board of
directors. The share purchase was made in connection with the compensation
…

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package for the board and in accordance with the resolution by the annual
general meeting on 14 May 2024 (item 11). The shares purchased are subject to a
12-month lock-up period.

The share purchase was executed by a broker on behalf of the board members, all
of which are primary insiders. A total of 36,998 shares were purchased at an
average price of NOK 23.2389.

Copies of notification of each of the persons discharging managerial
responsibilities (“PDMRs”) for their respective participation in the
transactions are attached hereto.

This information is subject to the disclosure requirements pursuant to
Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian
Securities Trading Act.

For further information, please contact:

Birte Norheim, CFO

birte.norheim@okea.no

+47 952 93 321

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information is available at www.okea.no

Kilde

Freddys · september 6, 2024, 6:24pm

Fartin · september 7, 2024, 7:33am

Idioti.

TekBot · september 23, 2024, 2:41pm

OKEA sells its 15% WI in Yme to Lime for a consideration of USD 15.65m

Trondheim, 23 September 2024 - OKEA ASA (“OKEA”) is pleased to announce that it
has entered into an agreement with Lime Petroleum AS (“Lime”) to sell its 15%
working interest in the Yme licence for a post-tax cash consideration of USD
…

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15.65 million (the “Transaction”). Effective date of the Transaction is 1
January 2024 with expected closing before year-end 2024.

Transaction highlights

· Sale of 15% working interest (WI) in the Yme field
· Fixed consideration of USD 15.65 million
· All related decommissioning costs to be transferred to Lime. In addition,
Lime will pay OKEA a post-tax consideration of USD 9.2 million in 2027 which
will be repaid to Lime in four 25 per cent tranches upon completion of four pre
-defined stages of abandonment of the field
· Effective date 1 January 2024
· Expected closing before end of 2024

OKEA CEO, Svein J. Liknes stated: “Following several years as a partner in the
Yme licence, we have decided to exit a non-core area with a relatively small
holding. The divestment allows OKEA to focus financial and human resources in
our core areas, and we are pleased to announce this transaction with Lime
Petroleum to the mutual benefit of both parties.”

Accounting implications of the Transaction

Following the Transaction, OKEA expects to recognise a post-tax accounting gain
in the area of NOK 150 - 250 million. OKEA’s production in 2024 will
subsequently be reduced by 3.0 - 3.5 kboepd. Upon settlement of the Transaction,
all liabilities relating to the Yme field will be derecognised from OKEA’s
statement of financial position (balance sheet). Figures in this section are
subject to potential changes in working capital movements, macro developments
and performance at Yme in the fourth quarter of 2024.

The Transaction is conditional upon Norwegian governmental approval and is
expected to be completed before year-end 2024.

The Yme field and licence

Yme is located in the southeastern part of the Norwegian sector of the North
Sea, 130 kilometres northeast of the Ula field.

Licence partners include Repsol Norge (55% WI and operator), PGNiG Upstream
Norway AS (20%), Lime (10% WI), and OKEA (15% WI). Following the Transaction,
OKEA will exit the licence and Lime will hold 25% WI.

For further information, please contact:

Birte Norheim
CFO
birte.norheim@okea.no

47 952 93 321

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline. OKEA is listed on the
Oslo Stock Exchange (OSE: OKEA).

More information is available at www.okea.no

This information is considered to be inside information pursuant to Regulation
EU 596/2014 (MAR) and is subject to the disclosure requirements pursuant to MAR
article 17 and section 5-12 of the Norwegian Securities Trading Act. The stock
exchange announcement was published by Gro Sønderland, Principal Legal Advisor,
OKEA ASA on 23 September 2024 at 16:40 CEST.

Kilde

TekBot · oktober 1, 2024, 9:59am

OKEA ASA - Approval of Prospectus

The Financial Supervisory Authority of Norway has today approved the prospectus
prepared in connection with the listing on the Oslo Stock Exchange of OKEA ASA’s
senior secured bond with ISIN NO 0013223503 (OKEA05).
…

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The Prospectus is available on the company’s website:
Bonds - OKEA

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

For further information, please contact:
Birte Norheim, CFO
birte.norheim@okea.no
+47?952 93?321

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information is available at www.okea.no

Kilde

TekBot · oktober 1, 2024, 2:35pm

Euronext Oslo Børs – OKEA ASA - Mottatt søknad om notering av obligasjonslån

TekBot · oktober 1, 2024, 2:35pm

Euronext Oslo Børs – OKEA ASA - Received application for listing of bonds

TekBot · oktober 24, 2024, 6:01am

OKEA third quarter 2024 trading update

(Trondheim, 24 October 2024) OKEA ASA (OSE: OKEA) will publish its financial
report for the third quarter of 2024 on Thursday 31 October at 06:00 (CEST).
This trading update is provided to summarise production and sales volumes and
…
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related updates for the quarter.

Third quarter 2024 production and sales
                                    Unit     Q3 2024  Q2 2024
Total operating income MNOK 2,926 2,584
Realised liquids price USD/boe 74.9 79.7
Realised gas price USD/boe 68.9 65.7
Net production Boepd 37,261 38,357
Net production - liquids Boepd 28,938 29,160
Net production - gas Boepd 8,323 9,197
Third-party volumes available for sale Boepd -25 -43
Over/underlift/inventory adjustments Boepd 3,553 -5,019
Net sold volume* Boepd 40,789 33,294
Net sold volumes - liquids Boepd 32,343 24,711
Net sold volumes - gas* Boepd 8,446 8,583
Unit Q3 2024 Q2 2024
Total liquidity MNOK 3,864 3,182
Interest bearing bonds MNOK 2,583 2,614
Other interest bearing liabilities MNOK 0 472

*Includes delivered compensation volumes to Duva and Nova (tie-in to Gjøa)

The realised liquids price for the quarter includes an NGL discount of USD 6.6
(4.7) per boe. This is higher than usual due to larger volumes of NGL sold in
the quarter and NGL trading at a discount to crude. USD 10.4 (10.4) per boe of
the realised gas price was attributable to gain on fixed price contracts.

Impairments

A net impairment income in the range of NOK 850 - 900 million is expected to be
recognised in the quarter.

The agreed terms of the announced sale of 15% WI in the Yme licence trigger a
reversal of previous impairments in the range of NOK 1,150 - 1,250 million. The
related post-tax effect is in the range of NOK 250 - 275 million.

The reversal relating to Yme was partly offset by technical goodwill impairments
of the Statfjord area and Ivar Aasen in the range of NOK 300 - 350 million. The
technical goodwill impairment was mainly a result of lower forward prices for
crude oil at balance sheet date. Technical goodwill arises as an offset to the
deferred tax recognised in business combinations and is not tax deductible.

Disclaimer
The information contained in this statement is based on a preliminary assessment
of the company’s third quarter 2024 financial and operational results and may be
subject to change.

Third quarter 2024 financial report to be published on 31 October
OKEA will release its third quarter 2024 results on Thursday 31 October at 06:00
CEST. A presentation of the results will be held on the same day through a
webcast and audioconference starting 10:00 CEST (OKEA Webcast Q3 2024
(royalcast.com) (https://channel.royalcast.com/landingpage/hegnarmedia/20241031_7
/)). The presentation will be held by Svein J. Liknes (CEO) and Birte Norheim
(CFO).

For further information, please contact:

Birte Norheim, CFO

birte.norheim@okea.no

+47 952 93 321

About OKEA
OKEA ASA is a leading mid- and late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA).

More information at www.okea.no

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TekBot · oktober 31, 2024, 5:01am

OKEA ASA - Third quarter 2024 financial results

(Trondheim, 31 October 2024) - OKEA ASA (OSE: OKEA) delivered operating income
of NOK 2,926 (2,583) and EBITDA of NOK 1,975 (1,617) million in the third
quarter of 2024. A net impairment income of NOK 871 (- 267) million was
…

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recognised, comprising NOK 1,185 (- 144) million in reversal of previous
impairments following sale of the Yme asset, partly offset by NOK - 316 (- 121)
million in technical goodwill impairment of the Statfjord area and Ivar Aasen.
Total liquidity amounted to NOK 3,865 (3,182) million.

(Amounts in parentheses refer to previous quarter)

“I am pleased to report continued strong operational performance. Increased
production from the Statfjord area offset the volume impact from planned
maintenance at export pipelines and processing plants in the quarter. The terms
of the announced sale of Yme represented a value accretive opportunity to exit a
non-core area and triggered a NOK 1,185 million reversal of previous impairments
in the quarter. As we currently have two major development projects in
execution, a portfolio of attractive investment opportunities with low breakeven
and short payback, and several infill and production drilling campaigns with
attractive economics planned, our current allotted and planned capital
commitments are higher than recent past years. We are therefore now extending
our guidance period to include 2025 and 2026”, stated OKEA CEO Svein J. Liknes.

Third quarter 2024 summary

Net production to OKEA was 37.3 (38.4) kboepd. Improved performance from new
wells brought on stream and increased production efficiency at the Statfjord
area partly offset the volume impact of 23 days of planned shutdown at the
Kårstø gas processing plant. Sold volumes amounted to 40.8 (33.3) kboepd.

The average realised liquids price was USD 74.9 (79.7) per boe. The realised
liquids price includes an NGL discount of USD 6.6 (3.7) per boe which was higher
than usual due to larger volumes of NGL sold and NGL trading at a discount to
crude. The average realised price for gas was USD 68.9 (65.7) per boe, of which
USD 10.4 (10.4) per boe was attributable to gain on fixed price contracts. Total
income from sale of petroleum products amounted to NOK 2,944 (2,442) million.

A net impairment income of NOK 871 (- 267) million comprises NOK 1,185 (- 144)
million in reversal of previous impairments of Yme following the announced sale
of the asset, partly offset by NOK - 316 (- 121) million technical goodwill
impairments of the Statfjord area and Ivar Aasen due to lower crude oil forward
prices at balance sheet date. The goodwill impairments are not tax deductible
and are non-reversable.

Cash and cash equivalents amounted to NOK 3,614 (3,182) million. In addition,
NOK 251 (0) million in excess liquidity was placed in a money market investment.

Interest-bearing bond loans amounted to NOK 2,583 (2,614) million. There are no
other interest-bearing liabilities remaining at balance sheet date, as NOK 454
million relating to the financial lease of the Inspirer rig at Yme was
reclassified to liabilities held for sale. This resulted in a net liquidity
position of NOK 1,282 (97) million.

Production guidance for 2024 is narrowed to 37 - 39 kboepd (from 36 - 40
kboepd), and capex guidance for 2024 is narrowed to NOK 3.2 - 3.5 billion (from
NOK 3.2 - 3.6 billion).

Due to two major development projects in execution, a portfolio of attractive
investment opportunities with low breakeven and short payback, and several
infill and production drilling campaigns with attractive economics planned, our
current allotted and planned capital commitments are higher than recent past
years. The company is therefore extending our guidance period to include 2025
and 2026 for capital expenditure and production. Production guidance is 28 - 32
kboepd for 2025 and 26 - 30 kboepd for 2026. Capex guidance is NOK 3.3 - 3.7
billion for 2025 and 3.2 - 3.8 billion for 2026. For the longer-dated guidance,
the indicated ranges include also less mature projects, some of which may not
materialise and with more uncertainty around timing.

Webcast and audioconference
A presentation of the results will be held today through a webcast and
audioconference starting 10:00 CET. The presentation will be held by Svein J.
Liknes(CEO) and Birte Norheim (CFO).
The webcastcan be followed at www.okea.no
orOKEA Webcast Q3 2024
(royalcast.com) (https://channel.royalcast.com/landingpage/hegnarmedia/20241031_7
/)
Dial in details for the audioconference:
NO: +47 2195 6342
DK: +45 7876 8490

SE: + 46 8 1241 0952

UK: +44 203 769 6819
US: +1 646-787-0157
PIN Code: 681934

For further information, please contact:
Birte Norheim, CFO

birte.norheim@okea.no

+47 952 933 21

About OKEA
OKEA ASA is a leading mid- and late-life operator on the Norwegian continental
shelf (NCS). OKEA finds value where others divest and has an ambitious strategy
built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no

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