18.01.2011 15:51:00 CET

Awards to North Energy in the APA 2010

North Energy ASA was awarded 5 new licenses, among these, 1 operatorship in the APA 2010.  The company has following this award a total of 19 licenses and 2 operatorship on the NCS.


"We are very pleased to have been successful with our APA applications. We have been awarded the acreage we have considered the most attractive. These awards are recognition of our continuous work in mature areas and it strengthens our position with regard to further growth in established exploration models"; says the CEO in North Energy, Erik Karlstrøm.

The awards announced today comprise of 1 license in the North Sea, 2 licenses in the Norwegian Sea and 2 licenses in the Barents Sea (see map attached).  The awarded licenses are close to existing North Energy acreage. North Energy was awarded two out of two licenses in the Barents Sea and is a recognition of the companys effort in the area.

PL590, blocks 6507/10 centrally situated on the Halten Terrace between producing fields

PL587, blocks 6407/ 8 between Draugen and Mikkel

PL594, blocks 7123/5 east of Goliat in the Hammerfest Basin

PL595, blocks 7124/1, 2 north east of Goliat in the Hammerfest Basin

PL503B, blocks 17/4, 5, 6, 9 represents additional acreage to PL 503 in the North Sea

North Energy has participated actively in these rounds since the company was established and has submitted successful applications in every round:  APA 2009 with 3 awards, APA2008 with 2 awards and 4 awards in the 20th concession round. North Energy has nominated blocks for the upcoming 21st concession round which is expected to be announced before summer 2011

For further information, please contact:

Erik Karlstrøm, CEO, + 47 47 65 29 90

Siw Sandvik, Communication Manager, +47 94 793 07

Knut Sæberg, CFO, + 47 91 80 07 20

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



North Energy APA 2010 Awards