OKEA ASA — M&A Activity 2019

Nov 13, 2019

OKEA ASA - Completion of sale of participating interests in Grevling and Storskrymten

OKEA ASA - Completion of sale of participating interests in Grevling and Storskrymten

OKEA ASA - Completion of sale of participating interests in Grevling and

Storskrymten

OKEA ASA (the "Company") announces that the sale of 20% of the Company's

participating interest in Grevling (PL 038D) and 18.57% of the Company's

participating interest in Storskrymten (PL 974) following Chrysaor Norge AS'

options exercise (as described in the Company's listing prospectus of 27 May

2019 has now been consented to by the Ministry of Petroleum and Energy.

Completion of the transactions is expected to occur no later than 31 December

This information is subject to the disclosure requirements pursuant to Section 5

-12 of the Norwegian Securities Trading Act.

For further info pls contact

Ståle Myhre, VP Investor Relation, +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