VNG to drill second and third well in license 586

4/30/2014

VNG to drill second, third well in license 586

STAVANGER, Norway -- The Norwegian Petroleum Directorate (NPD) has granted VNG Norge a drilling permit for well 6406/12-3 B and A.

Well 6406/12-3 B & A will be drilled from the Transocean Arctic drilling facility at position 64°01'52.37" north and 6°45'17.46" east after completing drilling of wildcat well 6406/12-3 B and appraisal well 6406/12-3 A for VNG Norge in the same production license.

The drilling programme for well 6406/12-3 B relates to drilling of an appraisal well and the drilling program for well 6406/12-3 A relates to drilling of a wildcat well, both in production license 586.

VNG Norge is the operator with an ownership interest of 30%. The other licensees are Spike Exploration Holding (30%), Faroe Petroleum Norge (25%) and Rocksource Exploration Norway (15%).

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