UPDATE ON THE STORBARDEN WELL IN PL 506S
Reference is made to the Stock Exchange Notice from Rocksource ASA (Rocksource), regarding the Storbarden well. The drilling rig “Borgland Dolphin” has completed drilling of the main reservoir and the secondary target in the Storbarden well in PL 506S in the North Sea. The well has not encountered hydrocarbons. Final data acquisition and analysis is currently on-going after which the well will be plugged and abandoned.
The well will now continue drilling to planned total depth in the Tor Formation. A final press release will be provided by the Norwegian Petroleum Directorate upon completion of the well operations.
Rocksource is the operator of the PL 506S licence with a 25 per cent working interest. The partners in PL 506S are Petoro (20 per cent), Petrolia (30 per cent) and Valiant (25 per cent).
Limassol/Bergen, 29 April 2013
For further information, please contact:
Vidar Bergo Larsen
Petrolia Norway AS
Phone: +47 90 86 60 41
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 50 per cent of the PL674 license, 30 per cent of PL 506S, PL 506BS, PL 506CS, PL 506DS. The company is fully owned by Petrolia SE, listed on the Oslo Stock Exchange, with 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. In addition, Petrolia SE owns Independent Oil Tools Group, a leading rental equipment company for the global oil industry. The company employs a staff of around 350 highly competent employees worldwide.