Petrolia SE reports dry well on Terne

Offshore staff

OSLO, NorwayPetrolia Norway AS (OSE:PDR) reports that the 6507/5-7 exploration well on the Terne prospect in PL558 in the Norwegian Sea did not encounter hydrocarbons. The well was drilled by the Borgland Dolphin rig.

Petrolia Norway AS has entered into an agreement with Det norske oljeselskap ASA to purchase 10% interest in the license (pending only formal approval by authorities).

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).

06/20/2014

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