StatoilHydro Tests Positive Gas in Algeria's TNK-2 Well

StatoilHydro has tested dry gas in well TNK-2 (Tinerkouk 2) in the Hassi Mouina license area in Algeria. The appraisal well was spudded on 5 June and the hydrocarbons were encountered in formations of Lower Carboniferous age.

StatoilHydro and partner Sonatrach are pleased with the results of the well.

The recently completed TNK-2 well is the sixth positive well in the license drilled by StatoilHydro. The encouraging results from the six wells give valuable information on the resource potential of the permit.

The Company is currently drilling well TGN-1, an exploration well also situated in the southern part of the Hassi Mouina license.

StatoilHydro was awarded operatorship for the Hassi Mouina gas block in July 2004. The block covers an area of 23,000 square kilometers in the Timimoun Basin. Hasssi Mouina is located close to the In Salah gas field.

StatoilHydro has a 75% interest in Hassi Mouina. The partner Sonatrach has a 25% interest.