Petrolia Norway Wins Stake in North Sea Licence

Petrolia Norway AS, a fully owned subsidiary of Petrolia SE, has been awarded a new license in the 2013 Award in Predefined Areas (APA) in Norway.

“Petrolia Norway is pleased to have been awarded 20 per cent of license PL 739S in APA 2013. This was the only license we applied for of the licenses awarded and we look forward to cooperate with the operator Statoil and the license partner Petoro to identify the potentials of the license. The license is stratigraphic divided and valid for post Jurassic strata,” says Managing Director Vidar Bergo Larsen in Petrolia Norway.

The PL 739S license is located south of the Oseberg South field and encompasses parts of the blocks 26/1, 31/10 and 31/11. Statoil Petroleum AS is the operator with a 50 per cent share and Petoro AS holds the remaining 30 per cent of the license.

The work program is to acquire a 3D seismic survey before a drill or drop decision within the next 3 years.

Press Release, January 22, 2014

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