Keywords:

Published:
April 11, 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Advisors retained in relation to contemplated listing

OKEA AS (“OKEA” or the “Company”) - a fast-growing oil and gas producer operating on the Norwegian Continental Shelf – has retained Pareto Securities AS, SEB (a part of Skandinaviska Enskilda Banken AB (publ) Oslofilialen) and SpareBank 1 Markets AS as Global Coordinators in connection with the contemplated listing of the Company’s shares on the Oslo Stock Exchange.

The contemplated listing is expected to take place during 2019 and could involve OKEA raising new equity to finance additional growth.

For further information:

CEO Erik Haugane            +47 90 72 16 55

CFO Knut Evensen           +47 95 07 76 22

www.okea.no                  

About OKEA:

OKEA is a fast-growing oil and gas producer operating on the Norwegian Continental Shelf (NCS) aiming to bring undeveloped discoveries with less than 100 million boe in reserves into production. We are a trusted partner on a local, regional and national level with a clear ambition to create value for owners, employees and society as a whole.

Our overall vision is to be the leading company on the NCS in terms of delivering safe and cost-effective field developments and operational excellence, while maintaining a competent organization with direct management engagement in all of our projects.

OKEA was established in June 2015 and founded with capital contributions from four members of management, as well as capital managed by Seacrest Capital Group.

OKEA consists of a strong management team coupled with a tier-one operator organization of more than 200 employees ensuring operational excellence. The NOK 4.5 billion acquisition of interests in Draugen and Gjøa in 2018 transformed OKEA from an E&P start-up to an established player.

Our head office is based in Trondheim and includes most of our management functions. Our offshore operational center for existing and future OKEA-operated fields is based in Kristiansund.