Norse Energy Says Second Manati Production Well Complete

Norse Energy Corp, in partnership with Petrobras (Operator) and Queiroz Galvao Perfuracao, reports that the drilling of the second production well on Manati has reached a total depth of 1659m.

The logging is completed and shows a gross pay of 233m, being 46m more gas column compared with the discovery well. Net pay is considered around 80% of gross pay. Such extra gross pay of gas is very encouraging in respect to the recoverable field total reserves. The drilling platform will stay on the location to complete the well for production.

The second and last module of the production facilities has been transported and is ready to be installed on the offshore jacket.

Overall, the Manati development project is proceeding as planned to accomplish a 3Q 2006 production start-up.