8 April Lime Petroleum AS (“LPA”) and LPA’s licence partners in PL740, in which LPA has a 17 per cent interest, make a Final Investment Decision (FID) for the Brasse (renamed Bestla) Field development. The field, estimated to contain 24 million barrels of oil equivalent gross in recoverable reserves1, will be developed as a tieback to the Brage Field, in which LPA has a 33.8434 per cent interest. 25 April Redesignations and changes to the composition of Rex’s board of directors, following the stepping down of four long-serving directors as part of the Company’s Board renewal process are announced, with Mr John d’Abo being redesignated as Executive Chairman from Executive Vice Chairman, and Mr Pong Chen Yih redesignated as Lead Independent Director from Independent Director, and chairman of the Company’s Nominating and Remuneration Committees. Ms Mae Heng, an Independent Director of the Company, is appointed to the Nominating Committee. 1 OKEA ASA press release, “Final investment decision made for Brasse”, 8 April 2024 2024 29 February Masirah Oil Ltd (“MOL”) announces the signing of a contract for a jackup drilling rig to perform a multiwell programme – the drilling and completion of a new in-field well and the work-over of two existing production wells – in the Yumna Field in Block 50 Oman, commencing in mid-March 2024. 14 March An Independent Summary Qualified Person’s Report (QPR) for the Yme, Brage and Brasse (renamed Bestla) Fields in Norway is issued. 14 March An Independent Summary Qualified Person’s Report (QPR) for the Yumna Field in Block 50 Oman is issued. 28 March MOL announces the spudding of the Yumna-5 well in the offshore Yumna Field in Block 50 Oman, to drain attic oil left un-swept by the current producers, as part of a multi-well programme. 30 April LPA and its licence partners in PL740, in which LPA has a 17 per cent interest, officially submit to the Norway Ministry of Energy, a NOK 6.3 billion (about US$571 million) Plan for Development and Operation (PDO) for the Brasse (renamed Bestla) Field. 8 June MOL completes its multi-well programme in the offshore Yumna Field in Block 50 Oman ahead of the 90-day schedule and below budget. The Yumna-5 well started production on 26 April 2024. The multi-well programme also included work-over of the Yumna-4 well, on top of originally planned work-overs of Yumna-2 and Yumna-3. MILESTONES Annual Report 2024 1 8
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