Capricorn Norge AS granted drilling permit northeast of Norne

6/26/2019

STAVANGER — The Norwegian Petroleum Directorate has granted Capricorn Norge AS a drilling permit for well 6608/11-9 cf. Section 15 of the Resource Management Regulations.

Well 6608/11-9 will be drilled from the Transocean Arctic drilling facility in position 66 2`54.07 N and 08 22`34.16 E.

The drilling program for well 6608/11-9 relates to drilling a wildcat well in production license 842. Capricorn Norge AS is the operator with an ownership interest of 40% and the licensees are Skagen44 AS with 30% and Pandion Energy AS with 30%. The area in this license consists of parts of blocks 6608/10, 6608/11 and 6608/12. The well will be drilled about 13 km northeast of Norne field.

Production license 842 was awarded on Feb. 5, 2016 in APA2015. This is the first exploration well to be drilled in the license.

The permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.