BW Energy – BOARD STATEMENT on the mandatory offer for all shares in BW Energy from BW Group
Reference is made to announcement by BW Group Limited on 13 December 2023 regarding the launch of a mandatory offer for all shares in BW Energy Limited (the "Company") not already held by it (the "Offer").
The board of directors of the Company has prepared a statement and recommendation on the Offer, in accordance with section 6-16 of the Norwegian Securities Trading Act.
The statement and accompanying fairness opinion letter is attached to this notice.
For further information, please contact:
Knut R. Sæthre, CFO BW Energy, +47 91 11 78 76
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine license offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 546 million barrels of oil equivalents at the start of 2023, when including the Golfinho Clusters.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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