PL229: The Goliat North exploration well was planned to be drilled towards the end of this year. A new data acquisition program in the license has been agreed and the Management Committee has by majority vote therefore decided to postpone the drilling of the well. The new data to be acquired, when combined with the existing database in the license, will address and rank the total prospectivity and help to prioritize the drilling sequence at a later stage to unlock the significant exploration potential in the block.
PL029B/PL265: The plan was to spud the Freke well in PL029B with the West Epsilon rig at the end of June. The plan now is to spud the Ragnarock well in PL265 when the rig becomes available after the ongoing well has been plugged and abandoned. The Freke well has been postponed and we will provide information when a decision has been made in the Management Committee.
Commenting on the drilling plans, Roar Tessem, Managing Director, says that "this is an exiting time for the Company, we start our own drilling operations shortly and we will also participate in a number of partner-operated wells targeting considerable resources in the months ahead".
Det Norske Oljeselskap ASA, listed on the OTC in Oslo (ticker NOIL), hereby provides an update on its NCS drilling activity. Following a recent private placement, the Company is now owned 84.2% by DNO ASA.
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