Reference is made to our notice published on notc.no on 25 August 2025, regarding the discovery in the Talisker exploration well at the Brage field.

Subsequent subsurface maturation has now confirmed an increase in estimated recoverable resources. 

Recoverable resources (P50) in the Talisker Statfjord formation have increased from 19 to 28 million barrel of oil equivalents (mmboe). Total recoverable volumes across the Statfjord and Cook formations are now estimated at 23 - 44 mmboe, up from 16 – 33 mmboe.
 
The development plan remains unchanged, with expected production start in 2027. Drilling and production are planned to be carried out from the Brage platform, supporting a capital-efficient development concept.
 
The discovered volumes represent attractive, low-cost resources that can be developed efficiently. With increased volumes, the expected break-even cost is now below USD 10 per barrel.

We look forward to continued progress at Brage.

The partners in Brage (PL 055) are operator OKEA ASA (35.2%), Lime Petroleum AS (33.8434%), DNO Norge AS (14.2567%), Petrolia NOCO AS (12.2575%) and M Vest Energy AS (4.4424%).

Contact:
Erik von Krogh, CFO
+47 930 38 075