Reference is made to the stock exchange announcement on 23 September 2024, where OKEA announced that it had entered into an SPA with Lime for the sale of its 15% working interest in the Yme license for a post-tax cash consideration of USD 15.65 million. Effective date of the Transaction is 1 January 2024.
In addition, Lime will pay OKEA a post-tax consideration of USD 9.2 million in 2027 which will be repaid to Lime in four 25 per cent tranches upon completion of four pre-defined stages of abandonment of the field.
The Transaction has been approved by the relevant Norwegian authorities and all related obligations, including decommissioning costs, have been transferred to Lime.
Source: OKEA
