Astero Appraisal Well Proves Additional Oil Volumes

Norsk Hydro as operator of Production License 090B has completed drilling of the appraisal well 35/11-14S.

The well has been drilled into a separate segment of the Astero oil discovery which was proven by well 35/11-13 in April 2005. The well encountered mainly oil in a good sandstone reservoir of Jurassic age.

Astero is located 8km north of the Fram West field in 361 meters of water. The well was drilled by the Transocean Winner to a total depth of 3253 meters.

The results of the well need to be further evaluated together with the data and evaluation of the original discovery well in order to assess the impact on resource potential and further development.

Revus Energy acquired its interest in Production License 090B in March 2005 from ExxonMobil shortly before the discovery well was spudded. Revus has 25% interest in the license with the other partners being Norsk Hydro (operator) 25%, Statoil 20%, Idemitsu 15% and Gaz de France 15%.

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