Press Release

Brage Field Production And Exploration Update – June 2022

Lime Petroleum AS (“LPA”) today announced that oil production in June2022 from the Brage Field in Norway, net to LPA, amounted to 3,079 barrels of oil equivalent per day (boepd).  A new production well added around 650 boepd gross production to the total Brage production in June and is experiencing an expected steady decline.

In the meantime, the drilling of an exploration well at the Brage South prospect targeting the deeper reservoir sections is ongoing. The well, when completed, will then be side-tracked as a production well in the Fensfjord section of the Brage South structure, regardless of the outcome of the exploration drilling.

LPA holds a 33.8434per cent interest in the Brage Field. The operator of the Brage Field is Wintershall Dea NorgeAS.