BW Energy is pleased to announce a substantial oil discovery with good reservoir quality on the Bourdon prospect in the Dussafu Licence offshore Gabon.

Evaluation of logging data and formation pressure measurements confirm approximately 34 metres of pay in an overall hydrocarbon column of 45 metres in the Gamba formation, making it the largest hydrocarbon column discovered to date in the Dussafu licence. The well was drilled by the Norve jack-up rig to a total depth of 4,135 metres.

The discovery will enable the Company to book additional reserves not included in its 2024 Statement of Reserves.

“The Bourdon appraisal well again confirms the significant resource potential of the Dussafu licence, which holds multiple additional prospects,” said Carl K. Arnet, CEO of BW Energy. “We will now carefully review the drilling results, but initial data indicates the potential for establishing a new development cluster with a production facility following the MaBoMo blueprint. We are evaluating a second sidetrack to further appraise the discovery”.

Bourdon is located approximately 15 kilometres west of BW Adolo FPSO and 7.5 kilometres southeast of the MaBoMo facility.

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 licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration Licence 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024.