BW Energy: Provides second update on Kudu appraisal well
BW Energy has completed drilling operations on the Kharas-1 appraisal well in the Kudu license area, offshore Namibia. The well reached a total depth of 5,100m and intersected multiple reservoir intervals. The well will now be plugged, and abandoned in line with the planned program.
Several shallow turbidite reservoirs with dry-gas shows were encountered, and reservoir properties from these and the acquired whole core are now being evaluated.
In the deeper section of the well, hydrocarbons were encountered in a fractured volcaniclastic reservoir. This confirms a working petroleum system with condensate and/or light oil. Further analysis is ongoing to determine the extent of the system and to characterise reservoir properties and appraisal options.
"Kharas-1 achieved its technical objective of testing multiple targets within a single penetration and delivered valuable geological, geochemical and petrophysical data. The results also confirm, for the first time, the presence of liquid hydrocarbons within the Kudu block and contribute to our understanding of the broader petroleum system. The reservoir complexity necessitates further appraisal to assess its potential. Our forward programme will focus on further high value targets based on the presence of liquid hydrocarbons, as well as gas and the learnings from Kharas-1A", said CEO Carl Arnet.
For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no
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 7% 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 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
