OTC Markets Group Welcomes BW Energy Limited to OTCQX

Rhea-AI Summary

BW Energy has upgraded its trading status from Pink® market to the prestigious OTCQX® Best Market, as announced by OTC Markets Group. The company, which focuses on oil and gas growth, now trades under the symbols "BWERY" and "BWEFF".

This strategic move provides U.S. investors with access to:

• Real-Time Level 2 quotes
• Current financial disclosures
• Transparent trading information

BW Energy, currently operating in Gabon, Namibia, and Brazil, met OTCQX's stringent requirements including high financial standards, best practice corporate governance, and securities law compliance. CEO Carl K. Arnet expects this upgrade to generate additional long-term value through expanded U.S. investor access and increased trading volumes.

Positive

• Upgrade from Pink to OTCQX market indicates higher financial and governance standards
• Company has diversified oil & gas assets across Gabon, Namibia, and Brazil
• Cross-trading on OTCQX expected to increase US investor access and trading volume
• Company meets high financial standards required for OTCQX qualification

Negative

• None.

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BW Energy Limited (Oslo Bors: BWE; OTCQX: BWERY, BWEFF), a growth-focused oil and gas company, has qualified to trade on the OTCQX® Best Market. BW Energy Limited upgraded to OTCQX from the Pink® market.

BW Energy Limited begins trading today on OTCQX under the symbols “BWERY” and “BWEFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

"The OTCQX Market provides a platform for increased recognition and engagement with a wider base of US investors. BW Energy is a fast-growing oil and gas company with production and attractive development assets in Gabon, Namibia and Brazil. We expect cross-trading on OTCQX to create additional long-term value through a broader US investor base and increased trading volumes in our shares," says Carl K. Arnet, the CEO of BW Energy.

About BW Energy Limited
BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market, and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS^TM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What does BW Energy's upgrade to OTCQX from Pink market mean for investors?

The upgrade to OTCQX provides U.S. investors with better transparency, access to real-time Level 2 quotes, and current financial disclosures through www.otcmarkets.com. This move indicates BW Energy meets higher financial standards and follows best practice corporate governance.

How will BW Energy (BWERY, BWEFF) trading on OTCQX affect its market reach?

Trading on OTCQX will create additional long-term value through broader U.S. investor access and increased trading volumes in BW Energy shares, while maintaining its primary listing on Oslo Bors (BWE).

What are the requirements for BW Energy to trade on OTCQX Best Market?

To qualify for OTCQX, BW Energy must meet high financial standards, follow best practice corporate governance, demonstrate securities law compliance, and can utilize home market reporting for U.S. information disclosure.

Where does BW Energy operate its oil and gas production assets?

BW Energy operates oil and gas production and development assets in three key regions: Gabon, Namibia, and Brazil.

What is OTC Markets Group's (OTCM) role in BW Energy's market upgrade?

OTC Markets Group, which operates regulated markets for 12,000 U.S. and international securities, facilitates BW Energy's trading on the OTCQX Best Market, providing enhanced visibility and access to U.S. investors.