(Trondheim, 25 April, 2024): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company") has
mandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS as Joint
Global Coordinators and Joint Bookrunners and Arctic Securities AS as Joint
Bookrunner to arrange a series of fixed income investor meetings commencing
today.

A new 4-year senior secured bond with an initial issue amount of USD 125 million
may follow, subject to inter alia market conditions. Net proceeds from the
contemplated bond issue will be used to fund planned investments related to the
recently sanctioned Bestla (previously named Brasse) development and general
corporate purposes. In connection with the bond issue, the Company expects to
increase its super senior revolving credit facility from USD 25 million to USD
37.5 million (the "SSRCF"). No amounts are currently drawn under the SSRCF.

This information is considered to be inside information pursuant to Regulation
EU 596/2014 (MAR) and is subject to the disclosure requirements pursuant to MAR
article 17 and section 5-12 of the Norwegian Securities Trading Act. The
information was submitted for publication by Anca Jalba, VP Investor Relations,
OKEA ASA on 25 April 2024 at 06:00.

For further information, please contact:

Birte Norheim, CFO
Birte.norheim@okea.no
+47 952 93 321

Anca Jalba, VP Investor Relations
Anca.jalba@okea.no
+47 410 87 988

About OKEA
OKEA ASA is a leading mid- to 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