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 2019.

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