Oslo, Norway, 5 December 2013 – Lime Petroleum Norway AS (“Lime Norway”) is pleased to announce that we have on 3 December 2013 signed an additional agreement with North Energy ASA (“North Energy”) to acquire a 20 per cent stake in two new licences, PL509S and PL 509BS. The transfer of the 20 per cent stakes are pending regulatory approval.
PL509S and PL 509BS total 977 square kilometres in the North Sea, south of the Gullfaks area and about 150kilometres west of Bergen in Norway on the Norwegian Continental Shelf (“NCS”).A potential discovery could be tied back to existing nearby infrastructure.
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Lime Norway is a wholly-owned subsidiary ofLime Petroleum Plc. Lime Petroleum Plc is a jointly-controlled entity by RexInternational Holding (65%) and Hibiscus Petroleum Berhad (35%).