Pertra Acquires Marathon's 30% Share in PL 337

Pertra has agreed to acquire Marathon's 30% share in PL 337, located on the Norwegian Continental Shelf. The PL 337 is operated by Pertra, and through the agreement with Marathon, Pertra's equity interest will increase from 35% to 65%. The other partners in the license are BG, 20% and Talisman, 10%.

This agreement is contingent upon the approval from the Norwegian authorities.

Furthermore, Pertra has agreed to transfer to Marathon in exchange for their PL 337 interest, the right to utilize one drill slot contracted to Pertra under the Consortium Agreement regarding the use of the Bredford Dolphin drilling rig.