Link: https://links.sgx.com/1.0.0/corporate-announcements/Z1YNDG88VTZ5KU9Z/87f4cd77840563358d82491d9c0833ac8f24985dbcab8853082d61ce7b96c057

Summary:

• Rex International Holding’s indirect subsidiary Lime Petroleum AS (LPA) holds a 33.84% interest in the Brage Field where new commercial oil discoveries have been made in the Talisker exploration well.

• Operator OKEA ASA announced discoveries in the Cook and Statfjord formations, with preliminary gross recoverable resources estimated at 16 to 33 million barrels of oil equivalent (mmboe).

• Further hydrocarbons found in two Brent group sandstones will be appraised in well paths expected to complete in Q4 2025.

• The Talisker well, drilled from the Brage platform, is one of the longest in the Norwegian Continental Shelf at 10.2 km.

• The Talisker exploration well is the first of three wells in a campaign, to be followed by an appraisal and a new production well.

• In May 2025, a separate discovery on the Brage Field’s eastern flank was estimated at 1.9 to 17.5 mmboe in place, or 0.3 to 2.8 mmboe in recovery.

• Brage Field has been producing since 1993; new wells and prospect investigations are ongoing to extend its production life.

• The Brage Unit partners are OKEA ASA (35.2%), LPA (33.84%), DNO Norge AS (14.26%), Petrolia NOCO AS (12.26%), and M Vest Energy AS (4.44%).

• Lime Petroleum AS specializes in oil and gas licenses in mature, infrastructure-adjacent areas of Norway.