Norse Announces Manati Progress

Norse Energy Corp, in Partnership with Petrobras (Operator) and Queiroz Galvao Oleo e Gas S.A., on Friday issued the following Manati field update:

--Well MNT- 3 successfully completed and in production as of March 12th.
--Well MNT-4 concluded production tests with effective production of about 1 MMm3/day, with a 60/64" choke - confirming good production capacity. Currently in the process of setting the Christmas Tree and in preparation for tie in operations. The rig will move to drill MNT-6 well.
--Well MNT-5, equipped with open hole gravel pack system under completion for production testing. The rig will be released to drill another Petrobras well while waiting for the IBAMA environmental license to start drilling the exploration wells on BCAM-40.

Average Manati gas production so far in March month has been about 1.9 million m3/day. Production is set to increase with new wells coming on line and with increased capacity to receive new gas supply.

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