Pertra Sells 20 % of PL 337…

This article originates from the news archive of Det norske.

5. September 2006

Today, Pertra ASA and Revus Energy ASA announced an agreement whereby Pertra will sell 20 % of its license interests in PL 337 to Revus.

The transaction stipulates that Revus transfers the right to utilize one of the company’s slots for the drilling rig “Bredford Dolphin” to Pertra.

PL 337 is located north of the Varg Field and covers parts of blocks 15/12 and 16/10. Pertra is operator of the license and plans to drill the “Gaupe” prospect in the summer of 2007 with the jack-up drilling rig “Maersk Giant”.

The agreement is contingent upon approval from Norwegian authorities.

After the purchase of Marathon’s share and the sale of license interests to Revus in PL 337, Pertra increases its share from 35 % to 45 %. The license owners are now as follows:

Pertra (Operator): 45 %
BG: 25 %
Revus: 20 %
Talisman: 10 %.