Petrolia Norway AS, a 100% subsidiary of Petrolia SE, announces that the
6507/5-7 exploration well on the Terne prospect in PL558 in the
Norwegian Sea did not encounter hydrocarbons. Petrolia Norway AS has
entered into an agreement with Det norske oljeselskap ASA to
purchase 10% interest in the licence (pending only formal approval by
authorities).
The well was drilled by the Borgland Dolphin rig. PL 558 is operated by
E.ON E&P Norge AS (EPN), (30% equity). Other partners are PGNIG Upstream
International (30%), Det norske oljeselskap ASA (10% equity) and Petoro
AS (20% equity).
Limassol/Bergen, 20 June 2014
For further information, please contact:
Vidar Bergo Larsen
Managing Director
Petrolia Norway AS
Phone: +47 90 86 60 41
E-mail: vidar.bergo.larsen@petrolia.no
About Petrolia Norway AS
Petrolia Norway AS maximizes field potential through innovative
exploration in mature areas on the Norwegian Continental Shelf,
leveraging on the extensive industry experience of the Petrolia Norway
team. Petrolia Norway AS is qualified as a licensee on the Norwegian
Continental Shelf. The company currently holds 20 per cent of PL 7379S,
50 per cent of the PL674 license, 30 per cent of PL 506S, PL 506BS, PL
506CS and PL 506DS, 10 per cent of PL628 and 10 per cent of PL 546. The
company is fully owned by Petrolia SE, listed on the Oslo Stock
Exchange, with head office in Limassol, Cyprus, and regional offices in
Oslo, Bergen and Stavanger.
About Petrolia SE
Petrolia SE has three business segments: E&P, Drilling & Well Technology
and OilService and is listed on Oslo Stock Exchange under the ticker
code PDR. The core activity includes Petrolia Norway AS, an independent
oil & gas company approved as a licensee on the Norwegian Continental
Shelf, and a group of leading rental equipment companies for the global
oil industry. Petrolia SE employs a staff of around 330 highly competent
employees worldwide.
This information is subject of the disclosure requirements acc. to § 5
-12 vphl (Norwegian Securities Trading Act)
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