Pertra to Drill on Froyhogda in Norwegian Sea

Pertra ASA reported that it will drill on "Froyhogda," which covers three blocks east of Ormen Lange in Production License 321 in the Norwegian.

The license partners have decided to initiate Phase 2 of the work program by drilling two exploration wells. 800 km2 3D seismic data have been acquired during the first phase of the work program. The license was awarded in the 18th Licensing Round, and the license period for the exploration period expires in the summer of 2010. The current license partners are Pertra 25% (operator), Talisman 40%, Hydro 20%, and Aker Exploration 15%.

A so-called drill site survey will be performed during the summer/fall of 2007 as part of the preparations for drilling the first well in 2008. The main prospect is in sandstones from the late Jurassic period and was deposited on the western flank of Froyhogda, which is a basement high. The depth of the well will be approximately 2000 meters.

Aker Exploration will pay the cost for Pertra's share of the two first exploration wells in this license.

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