Atinex Says Production Drilling has Begun at the Brage Field

This well 31/4-A-16A shall explore a potential extension of the Statfjord Horst to the West. Thereafter it shall be sidetracked to a new production target and completed in the Statfjord reservoir as 31/4-A-16B. This operation should be finished within Q1/2007.

The current production and exploration drilling program on the Brage field will continue until mid 2011 with production foreseen beyond 2020. For the period ending 2007 the Altinex group has committed to an extensive drilling program with more than 11 production wells, 7 - 8 exploration wells and 1 appraisal well. We will on a regular basis distribute press releases, reporting status on these drilling activities.