E.ON Farms-Out Norwegian Sea Stake to Noreco

Noreco has farmed into Production License 434 and will acquire a 20% interest by carrying a share of E.ON Ruhrgas Norges' drilling cost. Production License 434 includes the Ronaldo prospect, which is scheduled to spud in January 2011. The main target in the prospect is Middle Jurassic reservoir rock, and the well will be drilled by the Songa Delta semisub. The license, awarded in 2006, spans 15,321 acres (62 square kilometers) over parts of Block 6507/8 and is operated by Revus Energy.

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