Revus Energy Contemplates Private Placement

Revus Energy ASA has retained SEB Enskilda ASA and First Securities ASA to advise on and effect a contemplated private placement of new shares directed towards professional investors in Norway and internationally after the close of the Oslo Bors. The private placement will be carried out through a book- building process.

The planned share issue will amount to a maximum of 3,299,900 new shares, equal to approximately 10% of existing outstanding shares. Any such new shares will be issued pursuant to the authorization to the Board of Directors established at Revus' General Meeting held on May 10, 2006.

The proceeds from the private placement will increase the financial strength of the company and thereby support its ambitious growth plans beyond the near term exploration program. Revus was recently awarded nine exploration licenses in the APA 2006 and is one of the largest license holders in the Norwegian North Sea.