Oslo, Norway, 21 February 2014 – Lime Petroleum Norway AS (“Lime Norway”) has on 20 February 2014 signed an agreement with North Energy ASA (“North Energy”) to acquire a 20 per cent stake in a new licence in Norway, PL509CS. North Energy was awarded operatorship of the licence in Predefined Areas (“APA”) on21 January 2014. The acquisition of the 20 per cent stake in PL 509CS is pending regulatory approval.
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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%).