Alta, 23.04.2010: : Centrica Resources (Norge) AS, as operator of production license 433 have completed drilling of exploration well 6506/9-2 S. The well proved gas and condensate in both the Garn and Ile formations. Preliminary estimate of the discovery size is between 3 and 15 million Sm3 oe.

 

This is the first North Energy exploration well on the NCS. The participants in PL 433 are Centrica Resources Norge AS (Operator - 28%), Petro-Canada Norge AS (30%), E. ON Ruhrgas Norge AS (15%), Faroe Petroleum Norge AS ( 15%) and North Energy ASA  (12%).

 

The well objective was to prove hydrocarbons in early to middle Jurassic (Garn, Ile, Toft and Tilje formations).  Extensive data acquisitions have been performed.

Further analysis of data results is necessary prior to making a decision on appraisal or development.

 

The well was drilled in a water depth of 281 metres by the West Alpha rig and is located approximately 18 km northwest of Åsgard, and 247 km northwest of Kristiansund. The license was awarded in APA 2006.

 

Contacts:

Erik Karlstrøm, CEO, mobil phone: +47 476 52 990

Svein Johansen, Exploration Manager, mobile phone: + 47 975 12 846

Christina Søgård, Communication and IR Manager, mobile phone: + 47 975 22 020

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)