Singapore and Houston, November 11 ( GLOBE NEWSWIRE ) – GOWell Energy Technology (Nasdaq ticker: GOW ) (“ GOWell ” or “the Company”) announced today that its Singapore-based operating subsidiary, GOWell Technology Singapore Pte . Ltd ., has completed the acquisition of Well - Sense Holdings Ltd and its subsidiaries (collectively referred to as “ WellSense ”). WellSense is a leading company headquartered in Aberdeen, Scotland, providing distributed fiber sensing and wellbore integrity diagnostic technologies.

This acquisition will combine the proprietary fiber optic sensing technology, technical expertise, and existing customer relationships of WellSense with the global business layout and customer network of GOWell. The merged organization will be able to provide a wider range of advanced wellbore integrity solutions in the international energy market.

WellSense indicates that the company has established a good reputation in providing innovative fiber optic sensing solutions and diagnostic services to customers in the energy industry. Its FiberLine Intervention ( Fli ) technology has been deployed globally, with application scenarios covering wellbore integrity, production optimization, and underground diagnostics.

The company has not disclosed the financial terms of this transaction. This acquisition was completed with cash contributed by GOWell.

Strategic Reasons

GOWell indicates that this acquisition will expand the company's wellbore integrity product portfolio from point measurement to continuous distributed fiber optic sensing (DFOS). The company states that this will combine fiber optic diagnostics with GOWell wellbore integrity measurements, thereby enabling more precise and efficient identification and location of issues. The WellSense plug-and-play deployment model also aligns with GOWell's approach of delivering technology through service company partners.

The company stated that the integration efforts will be guided by customer continuity, operational excellence, and long-term growth.

GOWell Chief Executive Officer Guillaume Borrel indicates:

“WellSense is our first acquisition since becoming a listed company. Its fiber optic sensing technology, which has been verified on-site, now benefits from the support of GOWell's global manufacturing platform and technical expertise. Fiber optic sensing can locate issues along the wellbore; our logging technology can accurately identify and describe these issues. Together, we are able to provide a more complete and efficient picture of the integrity of the wellbore.”

WellSense Chief Executive Officer Annabel Green indicates:

Joining GOWell is an exciting opportunity for our employees, customers, and partners. GOWell's global infrastructure and customer relationships provide a strong platform for us to expand our business and increase our technological coverage, while also allowing us to maintain the professional capabilities, innovative spirit, and customer-first philosophy that define WellSense. We look forward to embarking on a new chapter as part of GOWell.

About GOWell Energy Technology

GOWell Energy Technology is an international company that provides a wide range of innovative well logging technologies and distributed sensing solutions for energy companies around the world. The company has a multidisciplinary R&D team and a strong portfolio of patents, with technologies designed to address complex industry challenges. GOWell's solutions can be applied to various types of wells, from traditional energy to energy transition. The company boasts a global and diversified customer base and maintains long-term cooperative relationships with major oil service companies and operators in the energy industry. GOWell is headquartered in Singapore, with main offices in the United States and the United Arab Emirates, and has regional hubs and operational networks covering more than 50 countries.

For more information, please visit: https :// www.gowell.energy.

About WellSense

WellSense was formerly part of FrontRow Energy Technology Group and was established in 2015. Headquartered in Aberdeen, Scotland, it is a technology company specializing in distributed fiber optic sensing, wellbore integrity diagnosis, and underground monitoring solutions. The proprietary FiberLine Intervention ( Fli ) technology of WellSense has been deployed in various well applications around the world.

Forward-looking Statements

This press release contains or may contain “forward-looking statements” as defined in Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended), which relate to, but are not limited to, the acquisition of WellSense, the benefits expected from the acquisition, as well as the business and financial plans, strategies, and prospects of GOWell and its subsidiaries. These statements are based on the beliefs and assumptions of the management of GOWell. Although GOWell believes that the plans, intentions, and expectations reflected or implied by these forward-looking statements are reasonable, the company cannot guarantee that such plans, intentions, or expectations will necessarily be realized. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally speaking, statements other than historical facts, including those regarding possible or assumed future actions, business strategies, events, or operating results, as well as any statements that mention forecasts, estimates, or other characteristics of future events or circumstances, are considered forward-looking statements, including their underlying assumptions. Words or phrases such as “believes,” “estimates,” “expects,” “predicts,” “anticipates,” “may,” “perhaps,” “will,” “be able to,” “should,” “will,” “seek,” “plans,” “arranges,” “possible,” “continue,” “potential,” “expects,” or “intends” may be used before or after such statements; however, the absence of such words does not mean that a statement is not forward-looking. Given these risks, uncertainties, and assumptions, the forward-looking events discussed in this press release may not occur, and the actual results of GOWell may differ significantly from those anticipated in these forward-looking statements.

Important factors that could lead to significant differences between actual results and those discussed in the forward-looking statements include: overall economic, political, and business conditions; the ability to integrate WellSense's business and technology with GOWell and to achieve the expected acquisition benefits; the ability to retain WellSense key employees, customers, and partners; the amount and timing of any deferred consideration related to the acquisition; the market value and financial performance of GOWell after the acquisition; the ability to execute growth strategies, achieve profit growth, and retain key customers and employees; the competitiveness of products and services; changes in applicable laws or regulations; the ability to maintain its listing on NASDAQ; the outcome of any legal proceedings that may be initiated against GOWell or its subsidiaries; and other risks and uncertainties listed in the documents submitted to the U.S. Securities and Exchange Commission. Please do not place excessive reliance on these forward-looking statements.

These forward-looking statements are only valid as of the date of issuance of this press release. Except as required by law, GOWell assumes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether due to new information, future events, or other reasons.

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