OKEA ASA

Regulatory Filings • Feb 2, 2022

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

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.

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.