OKEA ASA

Regulatory Filings • Aug 25, 2025

Oil discovery in the Talisker exploration well at the Brage field

Oil discovery in the Talisker exploration well at the Brage field

(Trondheim, 25 August 2025) OKEA ASA (OSE: OKEA) announces oil discoveries in

the Talisker exploration well at the Brage field (PL 055). The discoveries were

made in the Cook and Statfjord formations and are considered commercial with

preliminary estimates of gross recoverable resources in the range of 16 - 33

mmboe combined. In addition, appraisal of hydrocarbons encountered in the Brent

group is expected completed during Q4 2025.

The Talisker exploration well (31/4-A-15 B), a 10.223 meter long well, was

drilled from the Brage platform in the North Sea. Discoveries were made in the

Cook and Statfjord formations and are considered commercial with preliminary

estimates of gross recoverable resources in the range of 2 - 7 mmboe in the Cook

formation and 14 - 26 mmboe in the Statfjord formation respectively. In

addition, hydrocarbons were encountered in two thin sandstones in the Brent

group which will be further appraised by the upcoming well paths, expected

completed during Q4 2025.

"This discovery is another example of OKEA's strategy to utilise existing

infrastructure, subsurface knowledge and drilling technology to unlock more

value in the Brage area, and extend the lifetime of the field", says Svein J.

Liknes, CEO of OKEA.

More information on the final well result will be published by the Norwegian

Petroleum Directorate in due course. OKEA ASA (operator) holds 35.2% WI, Lime

Petroleum AS 33.8434% WI, DNO Norge AS 14.2567% WI, Petrolia NOCO AS 12.2575%

WI, and M Vest Energy AS 4.4424% WI in the PL055 license.

For further information, please contact:

Stig Hognestad, VP Investor Relations

stig.hognestad@okea.no

+47 902 59 040

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