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Brage Field & Yme Field Production Update – March 2023

Brage Field

Lime Petroleum AS (“LPA”) today announced that oil production in March from the Brage Field in Norway, net to LPA, amounted to 2,188 barrels of oil equivalent per day (boepd).

The production in March 2023 was quite stable, with one well experiencing reduced production performance due to valve problems.

LPA holds a 33.8434 per cent interest in the Brage Field. The operator of the Brage Field is OKEA ASA.

Yme Field

At the Yme Field, production in March, net to LPA, was 1,251 bopd. Only oil is sold from the Yme Field as the produced gas is being used for production operations and re-injected into the reservoirs for improved oil recovery.

The Yme Field resumed production on 30 March 2023 from five of eight oil producing wells, following an unplanned process shut down between 23 March 2023 to 30 March 2023. The operator is still beaning up (i.e. engineering sequence of choke settings in the start-up of a well) wells and production to its full potential.

LPA holds a 10 per cent interest in the Yme Field. The operator of the Yme Field is Repsol Norge AS.

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