Concedo ASA enters a new licence with planned drilling 2013

Concedo ASA and OMV (Norge) AS signed a deal on 14th May 2013 where Concedo will obtain a 20 % share in PL 393B located next to the Nucula oil discovery in the Barents Sea, and OMV will obtain a 20% share in PL 607, just west of the Skrugard and Havis discoveries in the Barents Sea. After the deal, Concedo will maintain a 20% share in PL 607 and GDF SUEZ E&P Norge AS with 60%. The Ensis prospect in PL 393B is planned for drilling the second half of 2013 while the Byrkje prospect in PL 607 is planned for drilling late 2013/early 2014. Statoil is the Operator with 50% share in PL 393B and partners are OMV (30%) and Petoro (20%). The deal is pending approval from the Authorities.
More information can be obtained from Geir Lunde, Managing Director of Concedo ASA, Telephone: +47-913 46 553, E-mail: geir.lunde@concedo.no