OKEA ASA

OKEA ASA - Mandate announcement and contemplated bond issue

Okea ASA has mandated DNB Markets and SpareBank 1 Markets to arrange a series of

investor meetings commencing Wednesday 20 November. Following the meetings, a

new USD senior secured bond issue with a 5 year tenor may follow, subject to

inter alia market conditions. Proceeds from the potential bond issue would

mainly be applied for a refinancing of the company's bonds maturing in November

2020 with ticker OKEA01 and ISIN NO0010810062. In conjunction with the potential

bond issue, the company may offer a conditional buy-back of OKEA01, after which

remaining OKEA01 bonds would be called.

In connection with this announcement, an updated credit investor presentation

has been published on our website

www.okea.no (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww

.okea.no&data=02%7C01%7Cstale.myhre%40okea.no%7Cf6f7225bbcc64b7aa2ab08d76c485cb0%

7Cf4d0f33e32cb4b0caafe6e0cefbc9ea9%7C0%7C0%7C637096930358986664&sdata=fvkjshT9T3n

Q5p6VZi4HikzetYI5HJ%2FOu1ZI0RjDcZM%3D&reserved=0)

For further info please contact

Erik Haugane, CEO, + 47 907 21 655

Ståle Myhre, VP Investor Relations, + 47 917 51 878

About OKEA

OKEA ASA is an Exploration and Production (E&P) company and operator on the

Norwegian Continental Shelf with production of ~20 000 boe per day. The company

aims to grow through low-cost field developments of discoveries with reserves up

to 100 million boe and mergers and acquisitions (M&A). The operating

organisation is built on the acquisition of the producing field Draugen in 2018.

OKEA ASA is listed on Oslo Stock Exchange under the ticker "OKEA".

More information on www.okea.no

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