Nini-5 Exceeds Pre-drill Expectations

The Nini-5 appraisal well in Denmark has been finalized with positive results exceeding the pre-drill expectations of reservoir connectivity and oil saturation.

The Nini-5 results are important and strengthen our anticipation of a fast development of the Nini East oil discovery. Together with our recent Rau oil discovery this will prolong the life of the Siri field complex and create significant added value` says President and CEO Olaf

I. Ellingsen.

An extract from the Danish Energy Agency`s press release:

Positive appraisal well at the Nini field, Nini-5

DONG E&P A/S, operator for the companies in license 4/95, has completed the appraisal well Nini-5 (5605/10-8) at the Nini field, close to the Norwegian/Danish boundary in the Danish part of the North Sea. The results of Nini-5 are considered positive.

The well was spudded May 25, 2007 with the jackup Noble George Sauvageau in 56 meters of water.

Nini-5 was drilled as a vertical well and reached total depth in chalk of Danian age at 1793 meters below mean sea level. The well proved the presence of oil and minor amount of gas in paleocene sandstone in the eastern part of the Nini field. In order to appraise the extent and quality of the oil-bearing reservoir, coring was performed and two sidetracks were drilled with positive results. The information acquired during logging and sampling confirmed the productivity of the reservoir.

The Nini field was put on production in 2003. The results of Nini-5 and from an earlier appraisal well in the area will be used in the companies' evaluation of the technical and economical feasibility of a development of the oil in the eastern part of Nini.

The appraisal well will be permanently plugged and abandoned. Subsequently the rig will be moved to the Nini production/wellhead platform to drill a production well in the central part of the field.

Companies participating in license 4/95 are DONG as operator with 40%; RWE-DEa with 30%; and Altinex with 30%.

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