Noble to Spin Bit at Leviathan

On January 14, 2012, the partners in Leviathan announced that the Homer Ferrington Rig (DW semisub) has arrived at Leviathan 1 drilling site in the Rachel license drilling site, and is expected to begin the drilling work into the deeper targets in the coming days. The drilling continues where it left off in April 2011, for technical and operational reasons as reported in the past. The drill is expected to last for 3 months and the budget is estimated at $45 million (excluding any production tests should they be decided to be taken). NSAI have made an estimate as of December 31, 2011 of the unrisked gross prospective resources, for three prospective reservoirs (Lower Oligocene, Middle Cretaceous and Lower Cretaceous) located in the Leviathan Deep Prospect.

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