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02/02/2006 Press Release 4/2006: Paladin Resources Norge AS, operator of Production Licence 143 CS, has completed drilling of exploration well 1/2-2.

The target for the well was a sandstone prospect from the Early Tertiary, called "Hummer".  The prospect is situated just north of the Blane discovery in the North Sea.

Exploration well 1/2-2 was drilled to a total depth of 3434 metres into rocks from the Late Cretaceous Age.  The drilling activity showed indications of hydrocarbons from about 3145 m below the sea surface in Early Tertiary sandstone.

The operator has implemented a program to collect data that will be used as a basis for further analysis to clarify the remaining potential in the production licence.  The well will now be permanently plugged and abandoned.

The well was drilled with the jack-up facility Mærsk Giant.  After completing this well, the facility will be moved to block 15/12 to drill appraisal well 15/12-16 in Production Licence 038 on the Varg Sør discovery in the North Sea.

The licensees in PL 143 CS are:

Paladin Resources Norge AS 45%
Det Norske Oljeselskap AS 35%
BG Norge AS 20%

Contact in the NPD:
Eldbjørg Vaage Melberg, tel +47 51 87 61 00

Updated: 04/09/2009