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Agreement to acquire seismic data

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Bayerngas Norge has entered an agreement to acquire seismic data in license PL 635.

Bayerngas Norge was awarded its first license as operator in January 2012. The formal agreement with the authorities was signed in week 12. The same week Bayerngas Norge entered an agreement with Fugro-Geoteam AS to acquire 182 square kilometer of seismic in block 35/5- 8 some 100 kilometers west of Florø, Norway.

In addition to the seismic agreement Bayerngas Norge participates in a rig consortium established by Norwegian Rig Management. Through this arrangement the company has secured the possibility to drill two wells in the period 2013 to 2016. The rig, Leiv Erikson, owned by Ocean Rig UDW Inc., is scheduled to start drilling on the Norwegian Continental shelf at the end of 2012.

"We are very pleased with having reached an agreement regarding seismic acquisition within such a short time span and preparations for the operation is well under way. We have highly qualified contractors and look forward to constructive cooperation with the other partners in the license. We are also happy with the rig arrangement. We believe access to rigs may be difficult in the future and with our ambitions to increase reserves we are prepared to use the resources needed", says Arne Westeng, Managing Director of Bayerngas Norge.