The Norwegian oil and gas company Vår Energi $VAR (+2,47 %) has commissioned the Balder Phase V project and at the same time completed the Åsgard Low Pressure Production Phase 3 (LPP3) project, thereby expanding its production in the North Sea.

With the launch of the Åsgard LPP3 project planned for December, the company has fulfilled its commitment to complete nine out of nine growth projects in 2025, marking a year of transformative progress for Vår Energi.

Production has increased from an average of 280,000 barrels of oil equivalent (kboepd) in 2024 to around 430 kboepd today, underlining our commitment to growth and value creation.

The development projects realized in 2025 are Halten East, Johan Castberg, Balder Jotun FPSO, Ormen Lange Phase 3, Snøhvit Askeladd Vest, Gjøa Low Pressure Project, Åsgard Subsea Compression Phase 2, Balder Phase V and Åsgard LPP3, with the Halten East, Balder and Johan Castberg projects making the largest contribution to growth.

At peak, the nine projects will contribute net production of around 180 kboepd and have developed 390 million barrels of oil equivalent (mmboe) of net proved and probable (2P) reserves, strengthening Vår Energi's position as the leading producer on the Norwegian Continental Shelf (NCS).

The addition of low-cost barrels has reduced the company's operating costs to around USD 10 per boe, a level that is expected to be maintained in the future.

Vår Energi is the operator of the Balder field with a 90% interest and Kistos Energy Norway is a partner with a 10% interest.

"Completing all nine projects on schedule this year is a great success for Vår Energi. This success has led to transformative growth, brought production to record levels and significantly improved the company's prospects. We are on track to maintain production at 350 to 400 kboepd through 2030 and beyond, and we have never been in a stronger position to create long-term value for our shareholders," said Nick Walker, CEO of Vår Energi.

...and so I would also like to look back in conclusion...

...after many personal ups and downs this year, everything turned out well after all.

In addition to the idea of getting married, as many people already know, I was torn out of life by cancer in the middle of the year. A long operation, since then a constant fight back to life, always at the limit, but at the end of the year the certainty that things will continue to improve and that I will remain free of cancer.

It's just a shame that the surgery was exactly 2 weeks before my final IHK exam (tax law) on the way to becoming a financial accountant, but postponed is not canceled and so I will tackle this project again in 2026.

But I would like to thank you again for the kind wishes for recovery and encouragement before and after the surgery, you are just meeegggaaa 🫶

But let's move on to the final figures for 2025:

The 28 was then also cracked on the last meters of this year and so overall I am almost in the middle of my 2nd forecast increase 💪🏻

Even if the path to the first 100k still seems a long one, it is the right path and, as we all know, that is the constantly growing goal.

In terms of dividends, I was also right on target and it's hard to believe that these also help to generate further sustainable growth 🤫😅

Now most people will be beating their hands over their heads and singing the performance song, but well, as you know, I approach things a little differently.

That's why I'm looking forward to breaking at least the 2k net dividend in 2026, despite my low volume 🥳

And despite this fact, I don't think the performance is bad at all 🤷🏻‍♂️🤗

》Top 5 of 14《

$3750 (+4,02 %) +51,37% (+51,56%)

$HSBA (+1,4 %) +35,01% (+39,07%)

$BATS (+0,52 %) +34,53% (+91,90%)

$RIO (-0,02 %) +20,55% (+28,69%)

$HAUTO (+0,33 %) +15,83% (+26,19%)

》Flop 5 of 14《

$1211 (+2,6 %) -11,51% (-11,49%)

$YYYY (-0,21 %) -5,23% (+1,45%)

$ASWM (+2,06 %) -2,36% (-2,36%)

$DTE (+0,27 %) -1,70% (-1,70%)

$VAR (+2,47 %) -0,80% (+2,65%)

All in all, the long-term view also looks quite reasonable in my opinion...

...so I will continue to stick to my targets and strategy in 2026.

And so there's really nothing left for me to do but thank the entire Getquin team @kundenservice @christian and the entire community...you are simply MEGA 🫶

Wishing everyone a happy new year and everything priceless for 2026 💫🥳

Let's just pick up together in 2026 where we left off in 2025 👋🏻

#gemeinsammehrerreichen

Publication of $VAR (+2,47 %) from 22.12.2025

After the boss @SAUgut777 has also given instructions to regularly share the latest information about this company 😇😉I am happy to comply.

For anyone wondering why they are posting about this: $VAR (+2,47 %) is one of the largest suppliers of natural gas to the European market and plays its part in keeping many people's homes warm at Christmas. Not an overperformer and of course cyclical, but with the right purchase price a pleasant dividend payer, which I have now had in my portfolio for over 2 years and am fully invested in.

Sandnes, Norway, December 22, 2025: Vår Energi (OSE: VAR, "the Company") publishes an update to the full year 2025 production guidance, which is at the lower end of the previous guidance at 330 to 335 thousand barrels of oil equivalent per day (kboepd) due to recent operational challenges in the Johan Castberg and Balder fields.

At Johan Castberg, some problems with the offloading hose led to periods of reduced production in November and now again in December. In the Balder area, there has recently been a decline in production at the Jotun FPSO caused by operational interruptions following the recently started Balder Phase V project, which was connected to the FPSO. Both the Johan Castberg and Balder fields are expected to be back in production on the plateau by the end of December.

Vår Energi has started nine growth projects in 2025, achieving transformative production growth. The company's production potential, when all assets are producing, is in the range of 440 to 460 kboepd. The production forecast for the full year 2026 of around 400 kboepd remains unchanged.

Vår Energi $VAR (+2,47 %) is pleased to announce the successful launch of Balder Phase V and the completion of Åsgard Low Pressure Production Phase 3 (LPP3).

With the launch of the Åsgard LPP3 project planned for December, the company has fulfilled its commitment to complete nine out of nine growth projects in 2025, representing a year of transformative progress for Vår Energi.

Production has increased from an average of 280,000 barrels of oil equivalent (kboepd) in 2024 to around 430 kboepd today, underlining our commitment to growth and value creation.

CEO Nick Walker said:

"Completing all nine projects on time this year is a great achievement for Vår Energi. This success has led to transformative growth, bringing production to record levels and significantly improving the company's prospects. We are on track to maintain production at 350 to 400 kboepd through 2030 and beyond, and we have never been in a stronger position to create long-term value for our shareholders."

The development projects completed in 2025 are Halten East, Johan Castberg, Balder Jotun FPSO, Ormen Lange Phase 3, Snøhvit Askeladd Vest, Gjøa Low Pressure Project, Åsgard Subsea Compression Phase 2, Balder Phase V and Åsgard LPP3, with the Halten East, Balder and Johan Castberg projects contributing the most to growth.

At peak, the nine projects will contribute net production of around 180 kboepd and have developed 390 million barrels of oil equivalent (mmboe) of net proved and probable (2P) reserves, strengthening Vår Energi's position as a leading producer on the Norwegian Continental Shelf (NCS).

The addition of low-cost barrels has reduced the company's operating costs to around USD 10 per boe, a level that is expected to be maintained in the future.

Vår Energi ASA$VAR (+2,47 %) and

and its partners have approved the first follow-on development to extend plateau production

from the Johan Castberg field in the Barents Sea until 2030.

The Equinor $EQNR (+3,73 %) operated Johan Castberg license has made a final investment decision

for the Johan Castberg-Isflak development.

The partnership also plans to

six new Increased Oil Recovery (IOR) wells and a development of the Drivis-Tubåen discovery.

The projects bring total reserves of 27 million barrels of oil equivalent (mmboe) net to Vår Energi and have a strong break-even price

and a high return on investment.

The Isflak development is expected to commence production in the fourth quarter of 2028 and consists of two wells and a subsea template that will be tied back to the existing subsea infrastructure in the Johan Castberg field.

The second article on the refund of withholding tax on Norwegian shares. You can find the first part with instructions and preparations for registering with the Norwegian authorities here: , Quellensteuerrückerstattung Norwegen Teil 1 . Once again, please note that this application is only possible for tax residents in Germany.

As a placeholder $EQNR (+3,73 %) , $HAUTO (+0,33 %) , $VAR (+2,47 %) , $MOWI (+1,41 %) , $MPCC (-1,49 %) , $TEL (-0,65 %) , $AKRBP (+1,59 %) , $TOM (+1,35 %)

Open the start page Altinn – Start - the language to English and if you have activated the automatic Google translator you can even go to German - log in, go to International, then log in without social security number/D-number, enter user name and password and log in. To find the right form, enter RF_1534 in the search, then the form Request for refund of withholding tax on dividends will open. You have a kind of "menu field" on the left-hand side which you can use to switch to the individual pages of the form.

Fill in the two pages for the applicant. Don't forget the tax ID ( Tax Identification Number ), but this is a mandatory field anyway. In the large field Registered address in country of residence, enter only the street and house number.

You will now need the dividend vouchers showing the withholding tax deduction.

Then open the Dividends form. There you will see three lines for your entries, which can be expanded as required.

In principle, you must enter Yes in the first field for the question of stock exchange listing in Oslo. This is the case if the ISIN of your share begins with NO... . In the second field, enter the VPS number of the depositary of your shares. This is clearstream, the currently valid number is 153300000145. In some forums you can still find the old number beginning with 05. In the third field you enter the year for which you are applying for the refund, up to 5 years retroactively are possible. Then enter the ISIN of your share as you can see it on the dividend voucher and the name of the company according to the voucher. In the sixth field, enter the dividend payment in Norwegian kroner according to the receipt. The number formatting requires the decimal point to be entered as a period! Then enter the percentage tax deduction, in this case 25%. You can choose different percentages for the refund claim. Take 10% here! Even if it is tempting to enter the full 25%, it works but will be displayed as an error when the form is checked at the latest. Repeat the whole process until you have entered every single dividend statement. So do not add up the dividends from one year, each payment must be entered individually.

This is actually the main task if you have several shares from Norway in your custody account. Once this is done, continue to the payment details page. Under Account Type, click on Other account and enter Euro as the currency, unless you have a corresponding foreign currency account with your bank. Then enter the IBAN and, to be on the safe side, the BIC and the name of the bank.

If there is anything else you would like to say about the application, you have the opportunity to make a note at the bottom of the page.

That's almost it. At the top left above the form name, go to the menu item List - Forms and attachments. You can now upload all dividend statements here. Once again the important note: You can a maximum of 10 PDFs of 50 MB each attached. One PDF is the certificate of residence. If you still have more than 9 individual receipts, combine them into one PDF by company and attach it.

Done, click on check and if everything is ok the document will be sent and you will receive a confirmation in your account.

Finally, a few comments:

Pay attention to the time limit in the form, so that it doesn't end and you have to type in all the entries again from the beginning.

There are a few brokers in Germany who will do this work for you for a fee. There you would have to apply for advance exemption from withholding tax. According to my research, and also confirmed in writing, DKB definitely does this. However, this is only a partial exemption, i.e. this 10%. The remaining 15% must be reclaimed via the tax return.

You can apply directly to the Norwegian tax authorities free of charge.

If you would like to take the route I have described, then quickly obtain your certificate from the tax office and submit the application at the beginning of the new year. Experience has shown that the decision and the refund are possible within a short time. Later in the year, waiting times of at least 6 to 9 months are common. Fortunately, there is even interest on the amount to be refunded if the authorities take longer to process the application. The transfer of the refund may be subject to a fee at some banks, ask your broker how much this is.

I hope this has made you a little less afraid of the refund and if you have any questions, please use the comments function. Greetings from your grandpa 😉😇

Vår Energi $VAR (+2,47 %) confirms another oil discovery in the Goliat North exploration well, which is located near the Goliat field operated by Vår Energi in the Barents Sea.

The exploration well, located five kilometers north of the Goliat field, encountered hydrocarbons in the Realgrunnen and Kobbe formations. The estimated gross recoverable resources are up to 5 million barrels of oil equivalent (mmboe).

The Goliat North well is an integral part of the Goliat Ridge appraisal drilling program. Vår Energi and its partner Equinor will drill a total of four wells in Goliat Ridge, with the Zagato sidetrack well currently underway. Upon completion of the appraisal program, the company will evaluate the full potential of Goliat Ridge based on the extensive data acquisition combined with the newly acquired 3D seismic data.

Including the recent discovery, the total potential of Goliat Ridge is estimated to be between 39 and 108 mmboe, with additional potential resources that could increase the total potential up to 200 mmboe. A tie-in of the Goliat Ridge discoveries to the nearby Goliat FPSO is being planned.

The partners in the license are Vår Energi (operator, 65%) and Equinor (35%).

Ho ho ho you beautiful Christmas time...

...here again the monthly look in the rear-view mirror🔎

The first thing that surprises me is the fact that the Getquin Rewind is more positive than my monthly benchmark at the end of the month 🤔

According to Rewind, I ended the month with + 1.07%...

...whereas my benchmark closed the month at -0.46% as at 30.11.2025 🤷🏻‍♂️

I can't quite put this together yet, but I assume that the cut-off date for the calculation was different from 30.11. or that gross dividends are also used in some cases 🤷🏻‍♂️

Be that as it may, for me the benchmark is the measure of all things in this context and the month ended with -0.46% 📉

A year-end rally also looks different to me, but all in all I'm quite satisfied with the annual results so far and am close to the lower range of my targets, which have been raised twice so far...

...over the year as a whole, I'm also quite satisfied so far and am on a par with or a nose ahead of the Nasdaq, although my portfolio is anything but tech/growth-heavy 😅

If things continue like this, I see myself well on the way to the first 100k 💪🏻

And if things go really well, this goal could even be reached during the term of office of the Orang(e)-Uta 🍊.

But as we all know, things often turn out differently than you think, so keep spitting in your hands and looking ahead...

In terms of dividends, the month also looked a little better again:

》Gross: € 217.01

》Net: € 176.09

》Yield (TTM): 6.033%

》YOC (TTM): 6.928%

These two values would actually be a little higher, but with every further purchase without a dividend received, they naturally fall again slightly 😉

》Total net dividend: € 1479.94

》CAGR: 495.30%

All in all, after 2 1/2 years, I think it's still easy to bear and should continue to rise steadily in the future, or rather, "the squirrel feeds on hard work" 🙂

》My top 3 this month:

🟢 $BATS (+0,52 %) +14,16% (+100,07%)

🟢 $DTE (+0,27 %) +1,35% (-1,57%)

🟢 $WINC (-0,02 %) +1,30% (+5,31%)

》My flop 3 this month:

🔴 $3750 (+4,02 %) -16,35% (+47,92%)

🔴 $YYYY (-0,21 %) -7,34% (+3,70%)

🔴 $VAR (+2,47 %) -5,49% (+1,01%)

》Disposals:

none

》Additions:

none

》Increased:

$DTE (+0,27 %)

$VAR (+2,47 %)

$1211 (+2,6 %)

Apart from that, there wasn't really much else new, except that my CT scan in November turned out well and my next check-up is due in a week's time.

With this in mind, I wish us all a wonderful pre-Christmas period and a good end to the year...stay tuned 📈👋🏻

I know I still owe the second part and am already working on the third part.... and ask for your indulgence. The more queries I get, the more information I collect and the more I want to share. As a placeholder $HAUTO (+0,33 %) , $VAR (+2,47 %) , $EQNR (+3,73 %) .....

Since the topic of advance exemption from Norwegian withholding tax has come up again and again recently in order to avoid the - in the eyes of some - laborious process of applying for it in Norway and at the German tax office, I have taken a closer look at DKB, which was mentioned by @SAUgut777 DKB, which was mentioned in this context.

The upstream AI is really stubborn, resistant to questions and in the end just as unfriendly as my questions 😂😂👍, but at least I was then allowed to send the conversation to DKB in a contact form filled out by the AI that contained all the relevant points 👌👌. And from then on, I had to deal with real people who were very friendly and cooperative. At this point, a big compliment to DKB's customer service and the quick reactions, I was more than positively surprised!!!

The end result is that DKB is the only bank so far to offer this service for my inquiries, but the core sentence :

"Dear Mr. Wxxxxx,

an advance waiver is not offered. This is an advance reduction. In accordance with the DTA between Norway and Germany, the Norwegian withholding tax rate is reduced from 25% to 15%.

I wish you a pleasant day."

For DKB account holders, this means that they will get back the 10% that the Norwegian tax authorities refund for you in the way I have described. According to DKB's fee overview, there is a fee of € 30 for this. The remaining 15% must therefore still be claimed via the KAP annex.

Now everyone can decide for themselves whether they want to invest the fee or make the effort themselves. It won't be quicker via DKB either, the Norwegian tax authorities are quite overloaded with applications. I received a short message that it can take up to 15 months at the moment....

So be aware, despite the sometimes very attractive dividends in Norway, that you will first have less than 50% net in your account and then have to do some work to get at least half of the withholdings back.

With this in mind, I will soon publish a shortened second part and follow up with a third part that takes into account the tax aspects and broker-specific features.