Small discovery at Skaugumsåsen

Det norske oljeselskap ASA, operator of PL 482, is in the process of completing exploration well 6508/1-2 on Skaugumsåsen. The well is located about 10 kilometers south of the Norne field in the Norwegian Sea.

The well encountered an 18 meter gas column and a 23 meter oil column.

Preliminary estimates of the discovery indicate recoverable volumes of 1 million Sm3 oil equivalents. Further studies are necessary in order to determine if the discovery is economically viable.

This is the first exploration well in license 48, which was part of the Awards in Predefined Areas (APA) 2007.

Well 6508/1-2 was drilled by the semi-submersible Aker Barents rig.

Partners in PL 482 include: Det norske (65 percent and operator), Petoro 20 percent and Skagen44 AS 15 percent.

Contacts:

VP Investor relations, Knut Evensen, mobile +47 950 77 622
CFO Teitur Poulsen, mobile +47 950 82 892