VTT secures offshore wind power contract

Source:Continental Energy Corp.

VTT Maritime AS (VTT), an affiliate of emerging international energy investment company Continental Energy Corporation (OTCBB: CPPXF), has been awarded a contract by Germany's BARD group to provide engineering services pertaining to the conversion of the offshore oil and gas construction vessel Edda Freya into the Ocean Zephyr as a dedicated maintenance vessel at the BARD 1 offshore wind energy farm.

BARD 1 is located in 40m water depth in the North Sea approximately 100km NW of Germany's Borkum Island. It consists of 80 5-Megawatt wind turbines with a total nominal electrical generation capacity of 400 Megawatts. Construction of the wind energy farm was started in March 2010, completed last month, and will go online at full capacity in September 2013.

Bergen based VTT is a well established contractor to the North Sea offshore oil and gas industry. It provides a variety of maritime related engineering, planning, supervision, and management services. These include heavy lifting operations, anchoring and removal of drilling rigs, installation of foundations and anchoring systems for platforms and subsea production facilities, vessel inspections and testing, and vessel design and engineering.

The Company's Norwegian subsidiary, Visionaire Energy AS, owns a 49% stake in VTT. The Company also shares a common director with VTT, Mr. Johnny Christiansen, who also serves as Chairman of VTT's board of directors.

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