Marco Beenen, member of the Board of Directors in BW Energy, has settled a Total Return Swap ("TRS") agreement underlying 10,202 shares in BW Energy Limited (“BWE”) expiring 31 August 2020. Mr. Beenen has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares in BWE with expiry date 22 February 2021 and TRS price NOK 20.73 per underlying share. In addition, Mr. Beenen owns 28,950 shares in BWE.
For further information, please contact:
Knut Sæthre, CFO BW Energy, +47 91 11 78 76
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 FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves are 247 million barrels at the start of 2020 and gross average production from Dussafu was 11.8 kbopd in 2019.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.