by Norwegian Petroleum Directorate
Wednesday, May 14, 2008

BG Norge is completing exploration well 15/12-19 in the North Sea. The well, located south of the Varg field, proved a gas and oil accumulation in reservoirs of Jurassic (Sleipner formation) and Triassic (Skagerrak formation) age.

A comprehensive data acquisition program has been carried out. The well was tested with an oil rate of approximately 750 Sm3/day.

The overall resource potential is currently being evaluated. A preliminary estimate indicates recoverable reserves of between 3 and 5 million Sm3 of oil equivalent which also includes the 6/3-1 discovery.

Field development studies are already initiated to progress a potential development of the discovery.

The well was drilled with the Maersk Guardian jackup in a water depth of 86 meters to a total vertical depth of 3169 meters below sea level.

Production License 292 was awarded in the North Sea licensing round in 2002 to DNO as operator. The operatorship was transferred from Lundin to BG in 2005. BG has 60 percent equity with Lundin holding the remaining 40 percent. The well will now be permanently plugged and abandoned. The Maesk Guardian will move to PL 274 to drill exploration well 1/3-11 for Dong.