North Energy: North Energy ASA - PL 507 Lupus well spudded

          North Energy: North Energy ASA - PL 507 Lupus well spudded

Alta, 1 July 2014

Exploration drilling has begun today on the Lupus oil prospect in production
licence 507 in the North Sea.

Located about 35 kilometres south of the Oseberg field, well 31/10-1 is being
drilled by the Borgland Dolphin.

Partners in the licence are Tullow Oil Norge (operator with 60 per cent),
Explora Petroleum AS (20 per cent), Ithaca Petroleum Norge AS (10 per cent)
and North Energy (*10 per cent).
*North Energy signed a purchase and sale agreement on 26 June with Tullow Oil
Norge covering the purchase of a 10 per cent holding in PL 507. This deal is
awaiting government approval.

Further information from:
Erik Karlstrøm, CEO
Mob: +47 476 52990 | E-mail:

Knut Sæberg, CFO
Mob: +47 918 00 720 | E-mail:

Kristin Ingebrigtsen, vice president strategy and PA/PR
Mob: +47 926 05 601 E-mail:

This information is mandatory under Section 5-12 of the Securities Trading


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The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: North Energy via Globenewswire
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