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Petrolia Norway AS Finds Dry Well on Terne

Source: www.gulfoilandgas.com 6/20/2014, Location: Europe

Petrolia Norway AS, a 100% subsidiary of Petrolia SE, announces that the 6507/5-7 exploration well on the Terne prospect in PL558 in the Norwegian Sea did not encounter hydrocarbons. Petrolia Norway AS has entered into an agreement with Det norske oljeselskap ASA to purchase 10% interest in the licence (pending only formal approval by authorities).

The well was drilled by the Borgland Dolphin rig. PL 558 is operated by E.ON E&P Norge AS (EPN), (30% equity). Other partners are PGNIG Upstream International (30%), Det norske oljeselskap ASA (10% equity) and Petoro AS (20% equity).

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