26.06.2013 07:00:00 CET

North Energy ASA - Dry exploration well on the Frode prospect in PL 299

Alta, 26 June 2013

The operator for PL 299 Frode, Talisman Energy Norge AS, is about to complete drilling operations on the prospect.

No hydrocarbons were encountered and the well will be plugged and abandoned. 

Partners in the licence are Talisman (operator with 31.5 per cent), Capricorn Norge (fully owned subsidiary of Cairn Energy PLC, 28.5 per cent), Dong E&P Norge (20 per cent) and North Energy (20 per cent). North Energy signed a sale and purchase agreement on 3 May with Spike Exploration Holding AS for the sale of a 10 per cent holding in PL 299. This deal is pending governmental approval.

Further information from:

Erik Karlstrøm, CEO

Mob: +47 476 52 990 | E-mail: erik.karlstrom@northenergy.no

Knut Sæberg, CFO
Mob: +47 918 00 720 | E-mail: knut.saeberg@northenergy.no

Kristin Ingebrigtsen, vice president strategy and PA/PR
Mob: +47 926 05 601 E-mail: kristin.ingebrigtsen@northenergy.no

This information is mandatory under Section 5-12 of the Securities Trading Act.