With reference to BW Offshore’s stock exchange release dated 7 April 2022, please observe the following.
BW Offshore has entered into a Total Return Swap (“TRS”) agreement with financial exposure to 353 425 shares in BW Energy Limited (“BWE”). The TRS agreement relates to BW Offshore’s Long-Term Incentive Programme (LTIP) adopted in 2019. Expiry date for the TRS agreement is 30 March 2023, and the TRS price is NOK 28.34 per share.
Please see BW Offshore’s stock exchange release for more information.
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 main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves were 241 million barrels at the start of 2022.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.