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Drilling Permit for 7120/1-4 S in Production License 492

Source: www.gulfoilandgas.com 3/5/2014, Location: Europe

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7120/1-4 S, cf. Section 8 of the Resource Management Regulations.

Well 7120/1-4 S will be drilled by the Island Innovator drilling facility at position 71 5 18.21" north and 20? 10 08.61" east.

The drilling programme for well 7120/1-4 S relates to drilling of an appraisal well in production licence 492. Lundin Norway AS is the operator with an ownership interest of 40 per cent. The other licensees are Det norske oljeselskap ASA with 40 per cent and Noreco Norway ASA with 20 per cent.

The production licence consists of parts of blocks 7120/1 and 7120/2. The production licence was awarded in APA 2007. Wildcat well 7120/1-4 S is the second exploration well in production licence 492.

The permit is contingent on the operator securing all other required permits and consents required by other authorities before the drilling activity starts.

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