20.02.2015 08:00:00 CET

North Energy ASA - Update on exploration well Tvillingen South in PL 510 in the Norwegian Sea

Alta, 20 February 2015

The licence partners in PL 510 have decided to plug and abandon exploration well 6406/6-4 in the PL 510 licence.

This follows a period of difficulties in a liner setting covering the intermediate part of the well. The rig, Leiv Eiriksson, will move on to Total's well Skirne in PL 627.

Licence partners in PL 510 will carefully evaluate new options for the licence work programme, including a potential redrill of the Tvillingen South prospect.        

Partners in the licence are Maersk Oil Norway AS (operator with 50 per cent), Edison Norge AS (30 per cent) and North Energy (20 per cent).

Further information from:

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

Kristin Ingebrigtsen, vice president organisation and communication
Mob: +47 926 05 601 E-mail: kristin.ingebrigtsen@northenergy.no

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