Norse Energy: Tests Positive, Drilling Continues at Gengibre

Norse Energy Corp, in partnership with Petrobras (Operator) Queiroz Galvao Oil & Gas and Brasoil Manati announce the following Gengibre update:

Production tests have been performed in the Gengibre exploration well. The tests concluded that the reservoirs are filled with light oil, however the permeability in the tested zones is low and it is unclear whether the discovery is commercial.

As a consequence drilling of a sidetrack has commenced to reach the main reservoir about 120 mt higher and more west in the same structure in order to further clarify commerciality of the discovery. The operator has estimated the drilling and testing period for the sidetrack to be approximately 90 days.