Perenco Expands Interest in Southern North Sea

Perenco has signed agreements with ExxonMobil to acquire the shares of Superior Oil (U.K.) Limited and certain assets of Mobil North Sea Limited in the UK sector of the Southern North Sea. The transaction is subject to the approval of the Secretary of State for Industry and other regulatory authorities, and is partly conditional upon the preferential rights of joint venture partners and the approval of other stakeholders.

The transaction involves a number of producing gas fields including: Lancelot: 98% - Malory: 76% - Excalibur : 100% - Galahad: 72% - Mordred: 92% - Guinevere: 75% - Arthur: 70% - Thames Complex: 23% - Gawain: 50% - Hewett & Bacton Hewett Terminal: 11%(approximate percentage interest)

Subject to associated joint venture agreements, Perenco will become the operator for all of these fields except Hewett and the Hewett Terminal. Average 2007 net production from these assets is expected to be in the order of 95mmcfd (16,000 boepd)

This package of assets is highly complementary to Perenco's existing assets in the same area which are operated from its base in Great Yarmouth and the Bacton Terminal. It is expected that the integration of the newly acquired assets will bring increased efficiency to these relatively mature assets, thereby extending their productive life and increasing their economic reserves.

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