Member Info for freshair

Yes, definitely getting a bit silly now. We had a strong Q1, but it’s not being acknowledged. We can’t do much about the completion dates for Oman except wait. 335p years high seems like a distant memory. We were there for a reason, and that’s never gone away.

The 20-business-day remedy period for Kistos Energy (Norway) AS regarding the late submission of its 2025 financial statements began on May 2, 2026. Counting only business days (and excluding weekends and Norwegian public holidays), the deadline for this cure period is expected to conclude in late May 2026.Kistos intends to deliver these statements in conjunction with the closing of its $300 million refinancing, thereby avoiding any Event of Default. Original Deadline: May 1, 2026

Just beat me to it. Full financials to be released by 29.

MENA: Blocks 3 & 4 (Afar & Ghunaim) cover ~29,000 km2 in eastern Oman and contain 7 producing fields. The blocks have a strong record of drilling activity, including 2 successful exploration wells drilled in H1 2025.

This is on the Kistos website. Don’t believe it was there last time I looked.

Kistos and its partners plan to drill a further 13 exploration wells by the end of 2029, targeting approximately 8 mmbbl of prospective resources (net) with approximately 40 mmbbl of follow-up potential (net).

I have purchased 455 shares today, despite being posted as a sell, I couldn’t resist.

Ref Paul 750pd, the individual who has maintained this board with honesty and accurate information is NoQuestionMarks.

Https://oilprice.com/Energy/Natural-Gas/Iraqs-Most-Strategic-Gas-Field-Just-Sent-a-Signal-Washington-Has-Been-Waiting-F.html

Var has recently sanctioned the first phase of the Balder Next project, which consists of debottlenecking at the Jotun FPSO to increase production capacity and drilling of new production wells. The next phase will include the decommissioning of the Balder Floating Production Unit (FPU) and the development of additional wells. 

Thought I had messed up when I sold RR down to only 5000 shares and put everything into my Kistos holding. Have to repeat, Wow. Thank you, AA and team. Will sleep tonight.

My investments were 90% in RR and 10% in Kistos. While I wasn’t one of those lucky investors who bought the rights issue and made fantastic gains, I was still delighted to double my money. I have a strong belief in AA and it’s so ingrained in me that my RR holding has now dwindled to 5% with 5000 shares and Kistos remaining at 90%. Am I mad? It lifts my spirits after reading such positive posts that share my beliefs.

Petrofac went into administration this week. AA might be after bits of it? Though 26th. November might be the best bet?

Just my thoughts from Q2 last year, Varenergi stated: “In the divestment programme, you’ll note that we divested the Bøyla and Norne assets in the quarter and continue to explore further opportunities. Of course, we’ll inform the market if we pursue any other actions. We may also consider divesting other assets in the future, but we’ll advise when we do so, if necessary, and we’ll do so at the appropriate time.”

The first obligation we had, of course, was to fund a significant investment in Jotun and Balder X.

Given that major costs are now out of the way, I believe Kistos would seize any opportunity to participate in a divestment plan or further consolidation within the NCS.

Not much to pick from today but,,.... " With Vår Energi’s major projects having been completed, the Company has been de-risked.

Looking forward to a pipeline of smaller low-risk tie-back projects and a significant infill well

programme across the portfolio will sustain production levels long term. These represent a

series of smaller low-risk decisions and, with around 65% of future capital spend

uncommitted, there is significant flexibility in the business to manage the capital spend

programme through the commodity price cycles."

Exploration programme 2025

PL 027 Prince Updip Vår Energi 90% Kistos 10% 15 Dec .25/Jan.26

Balder NEXT Part of scope will be sanctioned in 2025

When I read the SQZ deal, it was just as if AA was doing it—they talk with the same tongue. SQZ wants to expand into Norway. Will we eventually marry?

26 August 2025

Vår Energi reaches 400 kboepd production milestone ahead of schedule

Sandnes, Norway, 26 August 2025: Vår Energi ASA (OSE: VAR) has achieved a significant milestone by reaching a production level of 400 thousand barrels of oil equivalent per day (kboepd), ahead of schedule. The Company is also on track to produce around 430 kboepd in the fourth quarter this year, delivering on its strategy for transformative growth in 2025.

The higher-than-expected production level has been achieved as the Jotun FPSO at the Balder field continues to ramp up ahead of plan, with peak production expected during September. In addition, other assets across the portfolio are contributing with strong deliveries.

Who’s to say it’s not for Merger & Acquisitions. About time we seen some action.

All 14 production wells have been completed and will be brought onstream during the ramp-up period to reach peak production. Together with the Balder Phase V project starting up later this year, the project has a payback time of around two years¹. In addition, with the Jotun FPSO installed as an area host, Vår Energi is taking necessary steps to add new production through infill drilling, exploration and tie-back developments with short time to market.

Vår Energi is operator (90%) of the Balder field, with Kistos Energy Norway AS as partner (10%).

1. From production start-up

Second quarter 2025 highlights

Vår Energi reports strong results with key growth projects delivered as expected and a pipeline of quality new projects being moved

forward to sustain long term resilience

Production on-track for the mid-point of full year guidance

• Jotun FPSO successfully on stream, peak production expected during September

• Johan Castberg producing at plateau

• Current production above 350 kboepd

• Major turnarounds completed by end of July

Wouldn’t let me copy the URL last time, so some contents pasted from Offshore Energy today.

The Norwegian player and its partner have now taken another step to sustain long-term, high-value production through the newly installed floating production, storage, and offloading (FPSO) Jotun, with the FID for the Balder Phase VI project to fast-track its development as a key contributor to maintaining production levels in the Balder area.

This project, which will develop around 15 million barrels of oil equivalent (mmboe) of gross proved plus probable (2P) reserves for a capital spend of NOK 2.6 billion ($260 million) gross, is said to have strong economics, with a break-even well below $35 per barrel, IRR above 35% and will pay back in less than a year from start of production at current prices. This is one of around eight project sanctions expected in 2025.

Consisting of one additional multilateral production well, installation of a new subsea template, and a flowline that will be tied into the FPSO Jotun, the Balder Phase VI project is perceived to align with Vår Energi’s strategy of maximizing value in core hub areas by utilizing existing capacity and infrastructure, demonstrating how the upgraded FPSO will contribute to continued value creation in the area. This project is expected to come online by the end of 2026.

Torger Rød, COO of Vår Energi, commented: “The Balder area in the North Sea is one of Vår Energi’s core hubs and constitutes significant future resource potential. With the Jotun FPSO now installed as the new area host, we will continue to unlock additional high value barrels from the Balder area through several phases of new developments and field optimisations.

What will AA do? Will we expand in Norway?

On the divestment program, you'll note that in the quarter, we divested the Bøyla and Norne assets, and we

continue to look at opportunities to do further things. And of course, we'll let the market know when, if we do

something else. We have some other assets, perhaps in the portfolio that we might look at divesting in time, but

we'll advise when we get to that point, if we do, and we'll do it at the right time.

The Ringhorne North discovery also derisks more drillable prospects in the area; for example, Ghost and Prince Up Dip, which are candidates for drilling in 2025 and opens up potential development synergies with other nearby Vår Energi-operated discoveries such as King and Prince ( Kistos 7.4% ) Here, there's potential to

unlock around 100 million barrels of gross resources in this area and we're progressing this opportunity on a fast-track basis. So, the Balder area is much more than just the Balder X project.