Borgland Dolphin Contract Cancelled

The Letter of Award for a drilling contract utilizing the semi-submersible rig Borgland Dolphin, to Dolphin from Revus Energy ASA, Drilling Petroleum Technology (DPT), DNO AS and Pertra AS has been cancelled. Revus near term drilling plans are not affected by the cancellation.

Revus would in a potential contract have had access to 3 well slots in the period 2007-2009 and as such the rig was intended to be used for future drilling activity on prospects yet to be defined.

Near term drilling plans such as Aimee (PL316 operated by Paladin) and BlÄmannen (to be drilled from the Murchison platform) are not affected by the cancellation.

Revus will continue to co-operate with its operators and co-venture partners to secure the necessary rig capacity for future exploration drilling.

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