Paladin Resources' subsidiary, Paladin Expro Limited, has completed
the acquisitions of Elf Exploration UK plc's
19.2366 percent non-operated interest in License P.357 (Block 22/19a) in the UK
Central North Sea and a 32.59317 percent interest in the
Licence from Nippon Oil Exploration and Production U.K. Limited.
Block 22/19a contains the Fiddich gas and condensate discovery, which lies
approximately 20 km to the south east of the Paladin-operated MonArb Fields.
Partner interests in the License are: Paladin Expro Limited (operator) 51.82975
percent, NOEPUK 38.17025 percent and Noble Energy (Europe) Limited 10 percent.