Paladin Reaches TD on Hummer Prospect

Paladin Resources Norge AS, operator of Production License 143 CS, has completed drilling of exploration well 1/2-2.

The target for the well was a sandstone prospect from the Early Tertiary, called "Hummer". The prospect is situated just north of the Blane discovery in the North Sea.

Exploration well 1/2-2 was drilled to a total depth of 3434 meters into rocks from the Late Cretaceous Age. The drilling activity showed indications of hydrocarbons from about 3145 m below the sea surface in Early Tertiary sandstone.

The operator has implemented a program to collect data that will be used as a basis for further analysis to clarify the remaining potential in the production license. The well will now be permanently plugged and abandoned.

The well was drilled with the Maersk Giant. After completing this well, the facility will be moved to block 15/12 to drill appraisal well 15/12-16 in Production License 038 on the Varg Sør discovery in the North Sea.

The licensees in PL 143 CS are Paladin Resources Norge AS as operator with 45%; DNO with 35% and BG Norge with 20%.

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