BW Energy: Update on Kudu appraisal well

Core Insights - BW Energy has provided an update on the Kharas-1 appraisal well, which has reached total depth and drilled multiple formations within the Kudu license, yielding valuable geological data across the petroleum system [1][2] Group 1: Appraisal Well Update - The Kharas-1 well was designed to intersect several targets in a single borehole, which, while not allowing for individual optimization, provided significant geological insights [1] - Preliminary results from the well are encouraging, with several intervals indicating hydrocarbon presence and reservoir potential, suggesting a working petroleum system at Kharas [2] - Early analysis suggests that the K1 interval may contain hydrocarbons that are wetter than dry gas, and a hydrocarbon migration front has been observed [2] Group 2: Future Plans - Wireline operations are currently underway to assess reservoir quality, fluid type, and pressure characteristics, which will inform future decisions [2][3] - A follow-up appraisal campaign will be necessary to evaluate individual targets in greater detail, guided by the outcomes of the wireline program [3] Group 3: Company Overview - BW Energy is a growth E&P company focusing on proven offshore oil and gas reservoirs through low-risk phased developments, with access to existing production facilities [4] - The company holds significant interests in various fields, including a 73.5% interest in the Dussafu Marine license offshore Gabon and a 95% interest in the Kudu field in Namibia [4] - Total net 2P+2C reserves and resources were reported at 599 million barrels of oil equivalent at the start of 2025 [4]