Paladin Gets Okay to Use Maersk Giant on Well 1/2-2

Paladin Resources Norway has been granted consent for exploration drilling of well 1/2-2 using the Maersk Giant. The well is situated in the southern North Sea and is part of production license 143CS.

Maersk Giant can operate in up to 107-meter water depths and can accommodate 87 people. The facility received an Acknowledgement of compliance (AoC) in February 2002.

Well 1/2-2 is approximately 100 kilometers southwest of Egersund. The water depth on the site is 101 meters.

According to plan, the drilling activity will start at the end of September 2005 and will last 39 days.

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