Paladin Completes Acquisition of North Sea Blocks

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.