OER Oil Acquires Aker Energy

OER Oil AS has agreed to acquire 100% of the shares in Aker Energy AS. The closing of the transaction is subject to the approval of the Norwegian Ministry of Oil and Energy. Lundin Petroleum owns a 75% interest in OER oil.

Aker is a Norwegian independent oil company, which owns a 49% interest in License PL270 consisting of the undeveloped Agat gas/condensate discovery, as well as certain tax assets.