Talisman Discovers Grevling Prospect Larger Than Expected

Norwegian Petroleum Directorate

Talisman Energy Norway AS has concluded drilling of the appraisal well 15/12-21 A. In May 2009 oil was encountered in Middle Jurassic and Upper Trias reservoir rocks in 15/12-21. The discovery, which is probably commercial, lies 16 kilometers north of the Varg field in the North Sea.

The appraisal well shows that the Grevling discovery is larger than first anticipated, with the prospect now containing an estimated 40 million to 130 million barrels of oil.

The purpose of well 15/12-21 A was to delineate and determine the size of the discovery. The well encountered oil in the same reservoir rocks as the discovery well, and the oil column increased to 188 meters without the oil/water contact being determined.

The appraisal well shows that the size of the discovery probably is within the uncertainty range of 6 - 21 million standard cubic meters of recoverable oil equivalents. The well was not formation-tested, but data collection and sampling were carried out.

The discovery is being considered connected to the Varg field or as an independent development.

The appraisal well was drilled to a vertical depth of 3306 meters below sea level and was concluded in the Skagerrak formation from the Upper Triassic. The well will be permanently plugged and abandoned.

The well was drilled at a sea depth of 86 meters by the drilling facility Maersk Guardian. The facility will now move to production license 316 to drill production well 9/2-D 3H where Talisman is the operator.