Enterprise Update On Norwegian Exploration Program

Enterprise Oil announced the completion of testing on the Gamma well in Norway's Barents Sea, and the close of its 2000 drilling campaign in Norwegian waters.

The Gamma well, drilled on licence PL-201 in block 7019/1 by Transocean Sedco Forex's semisubmersible, Transocean Arctic, to a total depth of 9,773 feet in waters of 620 feet, discovered gas in sandstones of early Cretaceous and Jurassic ages. Core samples were acquired and a production test carried out. The group will now evaluate the acquired data to determine the future work programme on the licence. Partners in the licence are Norsk Agip with a 35 percent interest; Enterprise Oil with a 25 percent interest; Statoil with a 25 percent interest and Fortum with a 15 percent interest.

This well concludes Enterprise's outstanding Norwegian drilling program in 2000. Six out of the seven completed wells have been successful in encountering hydrocarbons.

The wells at Snadd, Svale, Delta, Goliath, Falk and Gamma have all encountered hydrocarbons. Snadd, Svale and Falk have all underlined the potential of the Skarv-Idun-Norne trend. Svale and Falk may prove accessible through tie-backs to Norne or ultimately as stand-alone developments. Goliath and Gamma have emphasised the prospectivity of the Barents Sea, and while much work remains to be done in this frontier area, have provided encouragement for further exploration in the region.