Okea Småprat

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Mandatory notification of trade

Ragnhild Aas (Deputy Board Member) has yesterday, 14 December 2021, sold 14 757
shares in OKEA at an average price of NOK 21.895.
…

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Kilde

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ABP ACQUIRES OKEA’S OPERATION CENTRE IN KRISTIANSUND

Asset Buyout Partners AS (ABP) has entered into a Sale and Leaseback (S&L)
agreement with OKEA ASA (OSE: OKEA), whereby ABP acquires OKEA’s regional
headquarter Råket 2 in Kristiansund. The property houses OKEA’s operation centre
…

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and is strategically located close to Vestbase. Råket 2 was acquired by OKEA as
part of the transaction with A/S Norske Shell in 2018, which also included a
44.56% interest in the Draugen licence and a 12% interest in the Gjøa licence.

Under the S&L agreement, OKEA shall lease the property for 20 years, with
additional extension options for up to 10 years. The sale price amounts to NOK
109 million and the transaction will be closed on 16 December 2021.

“We are pleased to enter into this long-term agreement with ABP. The Sale and
Leaseback arrangement supports OKEA’s strong foothold in Kristiansund and
releases capital for further investments in our core activities or distributions
to shareholders”, stated Birte Norheim, CFO of OKEA.

“We are delighted to acquire OKEA’s regional headquarter facilities in
Kristiansund. This is ABP’s third acquisition in the Kristiansund area and the
transaction strengthens our local presence further. We are also glad to initiate
a long-term relationship with OKEA, a fast-growing oil producer on the Norwegian
shelf, and we look forward to supporting OKEA’s operations going forward”,
stated William W. Wittusen, CEO of ABP.

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.

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

More information is available at www.okea.no (http://www.okea.no)

About ABP

Asset Buyout Partners AS is an industrial real estate company with a dedicated
investment strategy aimed towards mission critical real estate and
infrastructure assets located in major Norwegian energy and maritime clusters.
As of 30 June 2021, ABP owns and manages 1.8 million square meters of industrial
land and 265,000 square meters of industry properties.

More information is available at www.abpre.no

For further information, please contact:

OKEA CFO, Birte Norheim, + 47 952 93 321

OKEA VP IR, Trond Omdal, +47 915 32 578

ABP Co-founder & CEO, William W. Wittusen, +47 917 93 989

Kilde

[TekBot]

OKEA ASA - New share capital registered

(Trondheim, 21 December 2021) Reference is made to the stock exchange notice
published on 10 December 2021 regarding the issuance of new shares in OKEA ASA
(the “Company”). The share capital increase related to the issuance of 615,000
…

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shares has now been registered with the Norwegian Register of Business
Enterprises. The Company’s new share capital is NOK 10,387,035.00 divided into
103,870,350 shares, each with a par value of NOK 0.10.

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

The stock exchange announcement was published by VP Investor Relations, Trond
Omdal, OKEA ASA.

For further information, please contact:

VP Investor Relations, Trond Omdal, +47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, 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]

OKEA: Operational update - first lifting of oil from the Yme field completed

(Trondheim, 22 December 2021) (OSE: OKEA) The first lifting of oil from the Yme
field was completed today, on 22 December. A total volume of 100,000 barrels was
lifted, of which OKEA will be allocated 15,000 barrels. Further commissioning of
…

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process systems and start-up of additional wells will continue over the next
weeks which will enable ramp up of production over the coming months as the
process plant is tuned and optimised.

As announced in the third quarter 2021 financial results presentation, 632,000
barrels of oil was lifted by OKEA from the Draugen field in October. OKEA also
expects to lift 200,000 barrels of oil from Ivar Aasen in December. The next
lift to OKEA from Gjøa is expected to be 155,000 barrels of oil in early
January.

Production guiding for 2021 of 15,500-16,500 boepd remains unchanged.

OKEA will provide an operational update for the fourth quarter of 2021 on
Thursday 20 January 2022 and will release the fourth quarter 2021 results on
Friday 11 February 2022 at 06:00 CET.

For further information, please contact:

CEO, Svein J. Liknes, +47 917 67 704

CFO, Birte Norheim, + 47 952 93 321

VP IR, Trond Omdal, + 47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.

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

More information is available at www.okea.no (http://www.okea.no)

Kilde

[TekBot]

Drilling of the Ginny exploration well (PL1060) has started

(Trondheim, 3 January 2022) OKEA ASA (OSE: OKEA) announces that drilling
operations on the Equinor-operated Ginny exploration well 6407/9-13 have
commenced from the West Hercules rig. The well, in production licence PL1060,
…

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targets both an Upper Jurassic (Ginny) and a Middle Jurassic (Hermine) prospect
located between the Galtvort and Hasselmus discoveries.

OKEA holds a 40% working interest in the licence which was awarded in the APA
2019 licensing round. The licence is located NW of the Draugen field which is
operated by OKEA (44.56% WI).

‘‘This is the first of three exploration wells we will be drilling the coming
year, all focussed on near-field exploration near our Draugen and Gjøa producing
fields.’’ says Andrew McCann, SVP Subsurface & Wells in OKEA. "This type of
exploration is core to OKEA’s strategy of identifying upside potential for our
producing assets and a discovery in this area could be developed rapidly through
use of existing infrastructure’’, Mr McCann added.

Equinor Energy AS is operator of PL1060 with 31% working interest. The other
licensees are Chrysaor Norge AS (20% WI) and Longboat Energy Norge AS (9% WI).

Further announcements will be made, if applicable, when hydrocarbons are
encountered, and/or on completion of drilling operations.

For further information, please contact

SVP Subsurface & Wells, Andrew McCann, + 47 415 07 726

VP Investor Relations, Trond Omdal, +47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline. OKEA
is listed on the Oslo Stock Exchange (OSE:OKEA).

More information is available at www.okea.no

More information on www.okea.no

Kilde

[TekBot]

Employees in OKEA ASA intend to buy shares for NOK 28.7 million

Based on the incentive program in OKEA ASA (the “Company” or “OKEA”), Pareto
Securities has received an order to purchase shares in the market for an
aggregate amount of up to NOK 28,707,886 on behalf of 214 employees in the
…

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Company.

The purchase will be completed as a reverse bookbuilding today with close no
later than 6 January 2022 at 08:00 (CET). The reverse bookbuilding may be closed
earlier, but in no event before today, 5 January, at 18:00 (CET). The
transaction may be canceled or changed at any time prior to completion, or be
completed only in part.

Shareholders with questions regarding the transaction are kindly asked to
contact Pareto Securities at +47 22 87 87 50.

Contact person for other questions: Birte Norheim, OKEA CFO, at +47 95 29 33 21.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation. This stock exchange announcement was published by Birte
Norheim, CFO at OKEA, on 5 January 2022 at 16:30 CET.

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline. OKEA
is listed on the Oslo Stock Exchange (OSE: OKEA). More information is available
at www.okea.no (http://www.okea.no).

Kilde

[TekBot]

Successful purchase of shares in OKEA ASA - mandatory notification of trade

Reference is made to the stock exchange notification at 16.30 CET today
regarding the possible purchase of shares in OKEA ASA (the “Company”) in
connection with the Company’s incentive program.
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Based on received sales interest from shareholders, employees have on 5 January
2022 purchased a total of 1,063,156 shares in the Company. All shares are
purchased at a price of NOK 27.00 per share (the “Purchase Price”), giving a
total purchase price of NOK 28,705,212.

The following persons discharging managerial responsibilities (“PDMRs”) have
purchased shares as set out below:

Name Position Number of shares at the Purchase Price
Svein J. CEO 12,345
Liknes
Birte CFO 13,995
Norheim 1)
Knut SVP Projects & Technology 14,337
Gjertsen
Andrew SVP Subsurface 12,199
McCann
Trond VP Investor Relations 10,261
Omdal
Jan Atle Board member 3,476
Johansen
John Board member 7,812
Kristian
Larsen
Anne Lene Board member 6,800
Rømuld
Ragnhild Deputy board member 7,379
Aas
Gro Anita Deputy board member 3,476
Markussen
Jens Arne Deputy board member 6,096
Megaard

1. Through her wholly owned company, Bino Consult AS

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline. OKEA
is listed on the Oslo Stock Exchange (OSE: OKEA). More information is available
at www.okea.no (http://www.okea.no)

Kilde

[TekBot]

Mandatory notification of trade

Reference is made to the stock exchange notification 5 January 20:06:49 of the
successful purchase of shares in OKEA ASA (the “Company”) in connection with the
Company’s incentive program. Copies of notification of each of the persons
…

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discharging managerial responsibilities (“PDMRs”) for their respective
participation in the purchase are attached hereto.

For further information, please contact:

CFO, Birte Norheim, +47 952 93 321

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA seeks value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline. OKEA
is listed on the Oslo Stock Exchange (OSE: OKEA).

More information is available at
www.okea.no (Error during processing.
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Kilde

[TekBot]

Four licences awarded to OKEA in APA 2021

OKEA ASA has been offered interests in four new production licences on the
Norwegian Continental Shelf, three of which as operator, through the Awards in
Pre-Defined Areas (APA) for 2021.
…

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The awards announced today by the Ministry of Petroleum and Energy further
strengthen OKEA’s portfolio of near-field exploration opportunities around its
Draugen and Gjøa production hubs. The company now has interests in over 15
exploration-focussed licences.

The three new OKEA-operated licences are located in the Norwegian Sea. The
fourth licence, to be operated by Spirit Energy, is located in the North Sea,
north-east of the Aurora discovery.

‘‘These new awards give OKEA a great opportunity to build further on the near
-field exploration activities we have around Draugen, where we are drilling two
wells this year, and the Gjøa area where we also operate the Aurora discovery’’,
comments SVP Subsurface & Wells, Andrew McCann. ‘In addition, we have added
acreage in the Norwegian Sea near our Mistral and Fagn exploration licences’’.

±-------±-------±------------±--------------±------+
|Licence |Block(s)|Operator |Other partners |OKEA WI|
±-------±-------±------------±--------------±------+
|PL1161 |6407/6 |OKEA ASA |M Vest |60% |
±-------±-------±------------±--------------±------+
|PL1159 |6406/5,6|OKEA ASA |Equinor |50% |
±-------±-------±------------±--------------±------+
|PL1156 |6407/11 |OKEA ASA |Equinor, M Vest|40% |
±-------±-------±------------±--------------±------+
|PL1150 S|35/8 |Spirit Energy|Petrolia |30% |
±-------±-------±------------±--------------±------+

For further information please contact

SVP Subsurface & Wells, Andrew McCann, + 47415 07726

VP Investor Relations, Trond Omdal, +47915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.

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

More information is available at http://www.okea.no

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[image]

Kilde

[TekBot]

OKEA fourth quarter 2021 trading update

(Trondheim 20 January 2022) OKEA ASA (OSE: OKEA) today announces a trading
update for the fourth quarter of 2021 with a production of 16 038 (16 315)
barrels of oil equivalents per day (boepd), and a total operating income of NOK
…

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1 725 (1 026) million.

(Amounts in parentheses refer to previous quarter)

‘OKEA delivered another strong operational quarter with high reliability at
Draugen and Gjøa’, says OKEA CEO, Svein J. Liknes. ‘High oil prices and record
-high European gas prices contributed to exceptionally strong cash flow, and
total revenues for the quarter were on par with the full year revenues for 2020.
With the Yme field now onstream, OKEA is well positioned for further growth.’

Fourth quarter 2021 petroleum production and sales
OKEA produced 16 038 (16 315) boepd in the fourth quarter with high reliability
at both Draugen and Gjøa. Production from the Yme field started in October with
further commissioning of process systems and start-up of additional wells in
January and February.

Sold volumes in the fourth quarter amounted to 18 102 (16 979) boepd. Market
prices have continued to improve during the quarter which resulted in an average
realised liquids price of USD 78.0 (67.4) per boe* and an average realised price
for gas of USD1.11 (0.57) per scm**.

OKEA received Gjøa tariff income of NOK 24 million, NOK 13 million revenues from
joint utilisation of Draugen logistic resources and a net gain from gas forward
contracts of NOK 54 million.

±-------------------±------±------±------±------±------±------+
| |Unit |Q4 2021|Q3 2021|Q4 2020|FY 2021|FY 2020|
±-------------------±------±------±------±------±------±------+
|Total operating |MNOK |1,725 |1,026 |584 |3,882 |1,730 |
|income | | | | | | |
±-------------------±------±------±------±------±------±------+
|Realised liquids |USD/boe|78.0 |67.4 |39.0 |65.3 |36.3 |
|price | | | | | | |
±-------------------±------±------±------±------±------±------+
|Realised gas price |USD/scm|1.11 |0.57 |0.19 |0.62 |0.11 |
±-------------------±------±------±------±------±------±------+
|Net production |Boepd |16,038 |16,315 |16,171 |15,530 |16,147 |
±-------------------±------±------±------±------±------±------+
|Net production - |Boepd |10,580 |11,365 |10,961 |10,793 |11,152 |
|liquids | | | | | | |
±-------------------±------±------±------±------±------±------+
|Net production - |Boepd |5,458 |4,950 |5,210 |4,737 |4,995 |
|gas | | | | | | |
±-------------------±------±------±------±------±------±------+
|Third-party volumes |Boepd |419 |165 |- |147 |- |
|available for sale | | | | | | |
±-------------------±------±------±------±------±------±------+
|Over/underlift/inven|Boepd |1,645 |499 |2,623 |166 |-276 |
|tory adjustments | | | | | | |
±-------------------±------±------±------±------±------±------+
|Net sold volume |Boepd |18,102 |16,979 |18,794 |15,843 |15,871 |
±-------------------±------±------±------±------±------±------+
|Net sold volumes - |Boepd |11,629 |11,966 |14,016 |10,782 |11,145 |
|liquids | | | | | | |
±-------------------±------±------±------±------±------±------+
|Net sold volumes - |Boepd |6,473 |5,013 |4,778 |5,061 |4,726 |
|gas | | | | | | |
±-------------------±------±------±------±------±------±------+
| | | | | | | |
±-------------------±------±------±------±------±------±------+
|Cash and cash |MNOK |2,039 |1,504 |871 |2,039 |871 |
|equivalents | | | | | | |
±-------------------±------±------±------±------±------±------+
|Net interest |MNOK |750 |874 |1,529 |750 |1,529 |
|-bearing debt | | | | | | |
±-------------------±------±------±------±------±------±------+

• barrels of oil equivalents

*Boe - barrels of oil equivalents

**Scm- standard cubic metres

***Compensation volumes from Duva received (tie-in to Gjøa) included in Net sold
volumes - gas

Status on 2021 guiding
2021 full-year average production was 15,530 boepd and capex was NOK 638
million, both within the guiding range.

±---------±----±----------±--------------+
| |Unit |Preliminary|Guiding |
±---------±----±----------±--------------+
|Production|Boepd|15,530 |15,500 - 16,500|
±---------±----±----------±--------------+
|Capex |MNOK |638 |600 - 700 |
±---------±----±----------±--------------+

For guiding purposes capex figures do not include capitalised interest.

Impairments

As previously communicated, the transfer of ownership of the Inspirer rig to the
Yme licence was completed during Q4. For accounting purposes, the transaction
results in recognition of a pre-tax impairment charge, materially offset under
income taxes for change in deferred taxes following the impairment and reduction
in taxes payable from uplift. The impairment charge primarily results from lower
net asset value from the Yme field as uplift reduces tax payable. The
reorganisation of operations and ownership of the Inspirer rig is expected to
provide significant cost improvement and cash flow benefits of around NOK 300
million net after tax to OKEA over the next six months.

Financial position
At the end of the quarter, cash and cash equivalents and liquid investments
amounted to NOK 2 249 (1 504) million. Net interest-bearing debt amounted to NOK
750 (874) million which includes the value of OKEA’s share of the lease contract
with Havila for the Inspirer rig of NOK 493 million.

During the quarter, OKEA bought back OKEA02 bonds for a nominal value of USD
11.8 million at an average price of 103.6 to par. By end of 2021, OKEA had
bought back OKEA02 bonds for a nominal value of USD 38.4 million at an average
price of 95.7 to par of which USD 6.3 million has been cancelled.

In December, OKEA received NOK 109 million in proceeds for the sale of OKEA’s
regional headquarter Råket 2 in Kristiansund.

Financialrisk management

OKEA uses derivative financial instruments to manage exposures to fluctuations
in commodity prices.

By year end 2021,OKEA hadsold forward30% of the net after tax exposure for
natural gasfor Q1-22 at an average price of 304 GBp/th, 20% for Q2-22 at an
average price of 216 GBp/th and 20% of Q3-22 at an average price of 213 GBp/th.

Disclaimer
The information contained in this statement is based on a preliminary assessment
of the company’s fourth quarter 2021 operating and financial results and may be
subject to change.

Fourth quarter 2021 financial report on 11 February 2022
OKEA ASA will release its fourth quarter 2021 results on Friday 11 February
2022at 06:00 CET. A presentation of the results will be held on the same day
through a webcast and audioconference starting 08:00 CET. The presentation will
be held by Svein J. Liknes(CEO) and Birte Norheim (CFO).

The webcast can be followed at www.okea.no
orhttps://channel.royalcast.com/landingpage/hegnarmedia/20220211_8/ (https://eur0
1.safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flan
dingpage%2Fhegnarmedia%2F20220211_8%2F&data=04%7C01%7Ctrond.omdal%40okea.no%7C2af
ca663fa544552fff508d9db274c28%7Cf4d0f33e32cb4b0caafe6e0cefbc9ea9%7C0%7C0%7C637781
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Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=i3ldd8rRi6WQODrk95577LURzWhCaz2eekM%2F1AAIMOg
%3D&reserved=0)

Dial in details for the audioconference:

Norway: +47 2195 6342

UK: +44 203 769 6819

PIN Code: 681934

For further information, please contact:
CEO Svein J. Liknes, +47 917 67704
CFO Birte Norheim, +47952 93321
VP IR Trond Omdal, +47 915 32578

About OKEA
OKEA ASA is a leading mid to late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.

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

More information is available at www.okea.no (http://www.okea.no)

Kilde

[Sjaekerhatten]

I etterkant av Q4 trading update har jeg regnet litt på OKEA fremover. Det er mange som mener mye, men jeg lar tallene tale for seg selv. Jeg har et større regneark, men påpeker kun det mest vesentlige her.

2021
Omsetning 3.872 MNOK
Andre inntekter: 118MNOK Salg kontorbygg i Kristiansand + tidligere Q-rapporter
Direkte kostnader: -789 MNOK
Lønn og indirekte kostnader: -319 MNOK
Reversert nedskrivninger: +739 MNOK
Avskrivninger: 675 MNOK
Netto finans: -187 MNOK MNOK
Res.f.Skatt: 2.758 MNOK MNOK
Skatt: 2.124 MNOK “ca 77% i sum”
Res.e.skatt: 633 MNOK

Justeringer: -70 MNOK
Endelig resultat: 562 MNOK
Aksjekurs: 29,5,- kr

EPS: 5,42
P/E på kurs: 4,52x
EV/EBITDA: 2,18x
EV/EBIT: 3,23
mCap: 3.064 MNOK

Historisk har selskapet vært priset til P/E på rundt 8. Premiumaktørene prises til P/E 12 ±. OKEA er enn så lenge for liten til at selskapet fortjener noe mer enn P/E på 8. Det tilsvarer dog en aksjekurs på 43,34,- kr basert på 2021-tall.

Over til det mer interessante som er 2022e.

Som de fleste har fått med seg florerer det nå av oljeprisestimater og scenarioer hvor Brent kan gå til 100+. Gass på 221GBp/th i skrivende stund tilsvarer 29,74 USD/MMBTU som igjen tilsvarer USD/BOE 166. Det er ikke dårlig bare det, og selv om gass har falt mye siden ATH er den fortsatt på svært attraktive nivåer. Uansett, jeg har i 2022e gått ut fra følgende:

Brent spot: USD/BOE 65
Gass: USD/BOE 100
USD/NOK: 8,9

Videre har jeg forutsatt opprettholdelse av production reliability på de solide feltene, (Draugen, Ivar Aasen, Gjøa) og kun fra Q2 lagt til grunn skikkelig produksjon fra Yme. Legges f.eks. 25% produksjon til grunn fra YME i Q1, men normale nivå fra Q2 og utover får man følgende 2022e.

Omsetning: 6.233 MNOK¨
Andre inntekter: 0
Direkte kostnader: -900 MNOK
Lønn og indirekte kostnader: - 260 MNOK
Nedskrivninger: 0
Avskrivninger: 720 MNOK
Netto finans: -120 MNOK
Res.f.skatt: 4.149 MNOK
Skatt: 3.236 MNOK “78% skatt i snitt”
Res.e.skatt: 912 MNOK

Justeringer: 0
Endelig resultat: 912 MNOK
Aksjekurs 29,5,- kr

EPS: 8,79,- kr
P/E: 3,37x
EV/EBITDA: 1,72x
EV/EBIT: 2,01

Igjen, skal selskapet prises til P/E 8x vil aksjekursen da være 70,31,- kr.

Vi vet videre at det vil kommuniseres en utbyttestrategi i Q4-rapporten, nå som selskapet endelig har lov til det. Kanskje kommer utbytte, kanskje ikke. Uansett viser de kapitaldisiplin og de har kommunisert tydelig at de er på jakt etter oppkjøp/konsolidering/fusjoner. Jeg føler meg rimelig trygg på at det kommer noe i løpet av forholdsvis kort tid, men er også veldig komfortabel med å vente og la matematikken få rett til slutt.

Oppsiden fra regnestykket her kan jo sees i at oljepris og gasspris ligger over de nevnte nivåene på hhv. Brent Spot 65$ og Gass USD/BOE 100$ - noe jeg forsåvidt også anser som sannsynlig. Jeg liker også selskapet da energiproduksjon er den beste hedgen mot inflasjon, og selskapets relativt lave gjeld (Netto rentebærende gjeld per Q4-21 750 MNOK) og solide cashposisjon (2.034 MNOK per Q4-21) kombinert med stigende og solid inntjening gir trygghet mot kortsiktige børssvingninger.

Til slutt vil jeg påpeke at jeg har dratt ut det vesentligste her, det er flere nyanser som tilbakekjøp obligasjonslån OKEA02 og OKEA04, skatt, nedskrivninger, eventuelt lån på forretningsbygg solgt etc. Men det vil ikke påvirke totalen i større grad.

[TekBot]

Dry exploration well on the Ginny prospect (PL1060) operated by Equinor

(Trondheim, 2 February 2022) (OSE: OKEA) Reference is made to the Company’s
stock exchange notice dated 3 January 2022.

…

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Drilling operations on the Ginny exploration well 6407/9-13, operated by Equinor
Energy AS, are now being concluded.

The well is characterised as a dry well and will now be plugged and abandoned
once data acquisition is completed.

Data acquired in the well will be used to evaluate the further potential in the
licence, which includes the Galtvort discovery, and support OKEA’s other
exploration activities in the area. More information on the final well result
will be published by the Norwegian Petroleum Directorate in due course.

Equinor Energy AS (operator) holds 31% WI, OKEA ASA 40% WI, Chrysaor Norge AS
20% WI and Longboat Energy Norge AS 9% WI in the PL1060 license.

For further information please contact

SVP Subsurface & Wells, Andrew McCann, + 47 415 07 726

VP Investor Relations, Trond Omdal, +47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.

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

More information is available at http://www.okea.no

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Trond Omdal, VP Investor
Relations, OKEA ASA.

Kilde

[TekBot]

OKEA ASA - Invitation to presentation of fourth quarter results 2021

OKEA ASA will release its fourth quarter 2021 results on Friday 11 February
2022 at 06:00 CET.
A presentation of the results will be held on the same day through a webcast and
…

Vis børsmeldingen

audioconference starting 08:00 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 https://channel.royalcast.com/landingpage/hegnarmedia/20220211_8/ (https://eur
01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Fla
ndingpage%2Fhegnarmedia%2F20220211_8%2F&data=04%7C01%7Ctrond.omdal%40okea.no%7C2a
fca663fa544552fff508d9db274c28%7Cf4d0f33e32cb4b0caafe6e0cefbc9ea9%7C0%7C0%7C63778
1784105721065%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI
6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=i3ldd8rRi6WQODrk95577LURzWhCaz2eekM%2F1AAIMO
g%3D&reserved=0)
Dial in details for the audioconference:
Norway: +47 2195 6342
UK: +44 203 769 6819
PIN Code: 681934
For further information, please contact:
VP IR Trond Omdal, +47 915 32 578
About OKEA
OKEA ASA is a leading mid to late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, 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]

OKEA: Fourth quarter 2021 financial results

(Trondheim, 11 February 2022) - OKEA ASA (OSE: OKEA) reported a net profit after
tax of NOK 283 (97) million in the fourth quarter of 2021. Total operating
income was NOK 1725 (1 026) million, and EBITDA was NOK 1258 (797) million.
…

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Total liquidity (cash and cash equivalents and financial investments) increased
to NOK 2249 (1504) million. OKEA today also announces 2P reserves of 48.3 mmboe
including the Ivar Aasen transaction - an increase of 16% compared to year end
2020. Production guiding for 2022 is 18 500-20 000 boepd, an increase from the
previous outlook of 18 000-19 000.

(Amounts in parentheses refer to previous quarter)

“OKEA delivered record financial results and strong operational performance in
the fourth quarter. Combined with highly favourable market conditions, this
resulted in record high revenues in the quarter,” said OKEA CEO Svein J. Liknes.
“I am also pleased to announce a 16% increase in 2P reserves resulting from both
upgrades at existing fields, maturing of projects like Hasselmus and inorganic
growth. With the additional strengthening of our financial position again this
quarter, OKEA is in a very good position to execute on our growth ambitions,”
Mr. Liknes stated.

Fourth quarter 2021 summary
OKEA reported total operating income of NOK 1 725 (1 026) million and EBITDA of
NOK 1258 (797) million for the third quarter 2021. Net profit was NOK 283 (97)
million.

Netproduction toOKEAin thefourth quarterwas16 038(16 315) boepd.Thedecrease from
previous quarter was mainly driven bylower production from Gjøapartly offset by
increasedproduction from Draugen. Production from the Yme field started in
October with further commissioning of process systems and start-up of additional
wells planned for first quarter of 2022. Total sold volumeswere18 102 (16 979)
boepd. Market pricescontinued to improve duringthe quarter, which resulted in an
average realised price for liquids of USD 78.0 (67.4) per boe andarecord
-highrealised gas price averaging atUSD 1.11 (0.57) per standard cubic meter
(scm).

OKEA received Gjøa tariff income of NOK 24 million, NOK 13 million revenues from
joint utilisation of Draugen logistic resources and a net gain from gas forward
contracts of NOK 54 million.

OKEA recognised NOK367(0)million as impairmentin the fourth quarter.The transfer
of ownership of the Inspirer rig to the Yme licence was completedin October. For
accounting purposes, the transaction results in recognition of a pre-tax
impairment charge, materially offset under income taxes. The impairment charge
primarily results from lower net asset value from the Yme field as uplift
becomes deductible. Total tax income recognised in the quarter relating to this
effect amounted to NOK 286 (0) million.

At the end of the quarter, cash and cash equivalents and liquid investments
amounted to NOK 2 249 (1 504) million. OKEA’s share of the lease contract with
Havila for the Inspirer rig amounts to NOK 493 million and net interest-bearing
debt was NOK 750 (874) million.
During the quarter, OKEA bought back OKEA02 bonds for a nominal value of USD
11.8 million at an average price of 103.6 to par. By end of 2021, OKEA had
bought back OKEA02 bonds for a nominal value of USD 38.4 million at an average
price of 95.7 to par of which USD 6.3 million has been cancelled.
In December, OKEA received NOK 109 million in proceeds for the sale of OKEA’s
regional headquarters in Kristiansund.

2021 summary
(Amounts in parentheses refer to previous year)

OKEA reported a net profit of NOK 603 million for the full year of 2021,
compared to a net loss of NOK -603 million in 2020. Total operating income was
NOK 3 882 (1 730) million, and EBITDA was NOK 2 607 (867) million. Total
liquidity increased to NOK 2 249 (871) million. Average production for the year
was 15 530 (16147) boepd and capex, excluding capitalised interests,was [BN1]NOK
638 (980) million, both within the guiding range.

Total reserves estimates

OKEA’s total net proven plus probable reserves (2P/P50) are estimated at 48.3
mmboe including the Ivar Aasen transaction. This represents an increase of 16%
in probable reserves compared to year end 2020.
Outlook
Production guiding for 2022 is 18 500-20 000 boepd, increased from 18-19,000
boepd in the previous outlook provided. Capex guiding, excluding capitalised
interest, for 2022 is NOK 950 - 1 150 million. Production outlook for 2023 is 17
-19,000 boepd.

Webcast and audioconference
A presentation of the results will be held today through a webcast and
audioconference starting 08:00 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/20220211_8/ (https://eur0
1.safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flan
dingpage%2Fhegnarmedia%2F20220211_8%2F&data=04%7C01%7Ctrond.omdal%40okea.no%7C2af
ca663fa544552fff508d9db274c28%7Cf4d0f33e32cb4b0caafe6e0cefbc9ea9%7C0%7C0%7C637781
784105721065%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6
Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=i3ldd8rRi6WQODrk95577LURzWhCaz2eekM%2F1AAIMOg
%3D&reserved=0)
Dial in details for the audioconference:
Norway: +47 2195 6342
UK: +44 203 769 6819
PIN Code: 681934
For further information, please contact:
CEO Svein J. Liknes, +47 917 67704
CFO Birte Norheim, +47952 93321
VP IR Trond Omdal, +47 915 32578

About OKEA
OKEA ASA is a leading mid to late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 500 - 20 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline.
OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).
More information is available atwww.okea.no

[BN1]Her bør vi kanskje si at dette er ex. Kapitaliserte renter ihht
definisjonen på guidingen?

Kilde

[TekBot]

OKEA ASA - BUYBACK OF BONDS

(Trondheim, 25 February 2022) OKEA ASA (OSE: OKEA). Following the company update
on 11 February 2022, OKEA has bought back a nominal value of USD 26.4 million in
the OKEA02 bond (ISIN NO0010826852) in the market at a price of 103.625.
…

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In total, OKEA has now bought back a total nominal value of USD 68.1 million of
the OKEA02 bond, of which USD 6.3 million was cancelled in June 2020.

For further information, please contact

CFO, Birte Norheim, OKEA ASA: ph. +47 95293321

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 500 - 20 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, 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]

Drilling of the Hamlet exploration well in the Gjøa licence (PL153) has started

(Trondheim, 28 February 2022) OKEA ASA (OSE: OKEA) announces that drilling
operations on the Neptune-operated Hamlet exploration well (35/9-16 S) have
commenced from the Deepsea Yantai rig. The well will be drilled 7 km north of
…

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the Gjøa field and a discovery could be tied-back rapidly to the Gjøa platform.
The prospect lies in the Lower Cretaceous Agat Formation at a depth of
approximately 2600 m. OKEA holds a 12% working interest in the Gjøa licence
PL153.

‘‘The Hamlet prospect is an exciting opportunity to discover new resources
within the Gjøa licence.’’ says Andrew McCann, SVP Subsurface & Wells in OKEA.
"This is a further example of OKEA’s strategy of identifying upside potential
for our producing assets where discoveries can be developed efficiently through
existing infrastructure’’, Mr McCann added.

The drilling programme comprises a main well with an optional side-track
dependent on the outcome of the first bore. Further announcements will be made,
if applicable, when hydrocarbons are encountered, and/or on completion of
drilling operations.

Neptune Energy Norge AS is operator of PL153 with 30% working interest. The
other licensees are Petoro AS (30% WI) and Wintershall Dea Norge AS (28% WI).

For further information, please contact

SVP Subsurface & Wells, Andrew McCann, + 47 415 07 726

VP Investor Relations, Trond Omdal, +47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 500 - 20 000 boe per day in
2022. OKEA finds value where others divest and has an ambitious growth strategy
built on accretive M&A activities, value creation and capital discipline. OKEA
is listed on the Oslo Stock Exchange (OSE:OKEA).

More information is available at www.okea.no

Kilde

[Sjaekerhatten]

Med en oljepris på 112 USD/BOE og en gasspris på 296 USD/BOE i skrivende stund (dog mye volatilitet i gassprisene i dag) får alle oljeprodusenter er løft på OSEBX i dag. Jeg diskonterer enda ikke inn disse nivåene for året samlet, men øker snittpris for året 2022e til hhv. 95 USD/BOE for olje og 170 USD/BOE for gass. Dette gir en ganske merkbar effekt i kontantstrømmene OKEA genererer.

For Q1 forventer jeg en EPS stor 3,48,- kr og for året samlet EPS 16,27,- kr. Det tilsvarer P/E på hhv. 2,26x og 1,94x for året samlet. I analysen er Q1 lavere enn resten av året da vi ikke har hatt full YME-effekt i store deler av Q1-22, men som vil komme utover året.

Jeg har sendt spørsmål til b.la. Arctic og SB1-Markets om hvorfor det ikke settes fokus på denne feilprisingen når man ser det opp mot peers og premium-selskaper, men har enda til gode å få et godt svar. Meglerbransjen er forholdsvis kynisk, og det er enn så lenge ikke nok omsetning eller volum i aksjen til at det kan generere noe særlig til kurtasjeinntekter for meglerhusene til at det er interessant. Jeg har likevel tro på at feilprisingen vil lukke seg, men at vi nok må vente til neste tradingupdate eller annen trigger (Hamlet-funn?) først.

I tillegg registrerer jeg at Martin Møseter i First Fondene har lagt et lokk på aksjen på 32,- kr. Prøvde å undersøke litt om hvorfor han gjør dette, og fant at det er uttrekk fra fondet hans som tvinger han til å realisere på disse prisene. Følg med i aksjonæroversikten så er han registrert under Sparebank 1 SMN Invest AS da han er registrert under Sparebank Midt-Norges corporate-paraply. Han hadde per tirsdag (aksjonæroversikten er T+2 dager forsinket) 304.000 aksjer igjen, ned fra 1.071.400 aksjer som var høyeste nivået jeg kan registrere. Han har kun solgt på kurser over 31,- kr, og jeg forventer at motstanden løsner når han er ute som kan skje denne eller neste uke avhengig basert på takten historisk.

Det er desto hyggeligere å se at Harald Espedal v/ Salt Value kjøper mer og langsiktige storinvestorer som Eirik Must v/ Must Invest AS ikke selger.

Jeg har tidligere skrevet at jeg ikke ønsker å hausse aksjen, og det står jeg fortsatt for, men jeg ser ingen grunn til at ikke aksjen bør handles på nivåer nærmere 45-50,- kr på nåværende nivåer og multipler i både kontantstrøm og balanse. Selskapet har etter tilbakekjøp obligasjoner annonsert 25.02.22 en netto rentebærende gjeld stor 511 MNOK, og vil mer estimatene jeg har skrevet over, uten ytterligere gjeldsreduksjon, ha en EV/EBITDA stor 0,93x.

Det er selvfølgelig risiko på nedsiden ifbm oljepriskorreksjoner, gassprisfall, ytterligere forsinkelser YME, begrenset likviditet i aksjen per nå osv. Jeg blir likevel sittende og forventer et legg opp de neste 2-3 månedene.

Matro

[Kaisovski]

Strålende innlegg. Hjertelig takk.

[David777]

Hei. Er du samme person som skriver på HO?

[TekBot]

OKEA enters into long-term frame agreement with Aker Solutions

OKEA, together with its licence partners, have exercised option periods of 3+2+2
years to the existing frame agreement with Aker Solutions for operations and
modification services.
…

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By exercising all the optional periods, OKEA wants to secure a solid partnership
with Aker Solutions. A long-term strategic relationship offers predictability to
ensure access to necessary resources and competence allowing for smarter and
more efficient ways of working.

Maintaining a solid project team

The agreement with Aker Solutions covers support to all own-operated facilities
on the Norwegian continental shelf (NCS). The agreement was initially
established by Shell in 2017 and assigned to OKEA during the acquisition of
Draugen and Gjøa in 2018. The scope of work comprises engineering, procurement,
construction, and installation services.

· We have worked successfully with Aker Solutions and look forward to continue
our partnership. Collaboration and early engagement are important to control
cost and deliver projects safely and efficiently. With the high level of
activities coming up, it is critical to maintain a solid and long-term project
team, said Knut Gjertsen, SVP Projects and Technology.

Activity level remains high

Under the contract, Aker Solutions will continue to work on modifications on the
Draugen oil and gas platform to process gas from Hasselmus. The project is
scheduled to be completed at the end of 2023.

Aker Solutions is also a key partner in developing the Draugen Power from Shore
project. The project is currently in the FEED phase and an investment decision
and PDO is planned for late 2022.

About us

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental
shelf (NCS) with a current target production of 18 500 - 20 000 boe per day in
2022. 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