Altinex Spuds Rau-1 Offshore Denmark

Altinex Oil on Sunday spudded the Rau-1 well in the Danish offshore License 7/06, 265 km west of Esbjerg with the drilling unit Noble George Sauvageau.

The Rau-1 well is the first well that Altinex is drilling as an operator in the Danish North Sea. It is also the first well to be drilled on a license awarded in the Danish 6th round in May 2006.

The well will be drilled to 2530 m depth. In case of discovery of hydrocarbons, two sidetracks are planned.

Partners in DK License 7/06 and the Rau-1 well are:

--Altinex Oil Denmark A/S - 40% (Operator)
--RWE Dea AG - 40%
--Nordsofonden - 20%

The Maeen-1 well in Oman has experienced severe drilling problems in the shallow section. The original well was plugged and abandoned. On March 22, a new well was spudded 20 meters from the original location. The re-spud has successfully drilled the problem zone, and drilling will now continue toward the target as per program.