BW Energy: Provides second update on Kudu appraisal well

Core Insights - BW Energy has successfully completed drilling operations on the Kharas-1 appraisal well in the Kudu license area, offshore Namibia, reaching a total depth of 5,100 meters and intersecting multiple reservoir intervals [1][2] - The well encountered hydrocarbons in a fractured volcaniclastic reservoir, confirming a working petroleum system with condensate and/or light oil, necessitating further analysis to characterize reservoir properties [2][3] - The results from Kharas-1 provide valuable geological, geochemical, and petrophysical data, confirming the presence of liquid hydrocarbons within the Kudu block and enhancing the understanding of the broader petroleum system [3] Company Overview - BW Energy is a growth exploration and production (E&P) company focusing on proven offshore oil and gas reservoirs through low-risk phased developments, with access to existing production facilities to expedite time to first oil and cash flow [4] - The company holds significant interests in various fields, including a 73.5% stake in the producing Dussafu Marine license offshore Gabon, 100% interest in the Golfinho and Camarupim fields, and a 95% interest in the Kudu field in Namibia [4] - As of the start of 2025, BW Energy's total net 2P+2C reserves and resources are estimated at 599 million barrels of oil equivalent [4]