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CONDITIONAL OFFER (MOU) FOR PETRORIG III FROM AN INTERNATIONAL DRILLING CONTRACTOR

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Larsen Oil & Gas (LOG) as Business Manager for PetroRig III Pte Ltd has as a result of 2-3 months discussions, received a conditional offer (MOU) of approximately USD 540 million for the drilling rig PetroRig 3 owned by PetroRig III Pte Ltd (including the Pemex contract).


The Board of Directors of PetroMENA ASA will evaluate how to proceed with the proposal.

For further information : please contact Mr. Lars Moldestad, phone +47 906 99 197.


Bergen/Oslo, 09 February 2009