Drilling Ops Commence at Anne Marie Well

Drilling operations have commenced on the Anne Marie prospect, located offshore of the Faroe Islands. The well, 6004/8a-1, is targeting oil-bearing sandstones of the Eocene and Paleocene age in a structural trap. The well is being drilled by the Seadrill West Phoenix semisub in a water depth of 3,629 feet (1,106 meters), about 118 miles (190 kilometers) southeast of Torshavn. Eni Denmark BV serves as operator with a participating interest of 30%. Other partners in the joint venture consist of Dana Petroleum (25%), OMV (20%), CIECO (12.5%), and Faroe Petroleum (12.5%).

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