News post

Norway PL591 Zumba well update

Well 6507/11-11 on theZumba prospect in PL591 is in the process of being completed by operator Tullow Oil Norge AS. The well is defined as dry.

The well was drilled in the Norwegian Sea, approximately14 kilometres southeast of the Heidrun Field in a water depth of 270 metres using the semi-submersible rig Leiv Eiriksson. Drilling was stopped at 2,875metres below sea level in the Middle Jurassic Fangst Group.

The prospect had been defined as a new graben play based on extensive geophysical and geological studies indicating the presence of Upper Jurassic Rogn sandstones. Rex Virtual Drilling analysis on the prospect had indicated the presence of hydrocarbons, which from logs runin the well proved to be the petroleum in the very rich and thick source-rock found in the interval where the reservoir sands had been predicted from the geophysical studies.

Partners in the licence are Tullow Oil NorgeAS (operator at 40 per cent participating interest), Lime Norway (25 per cent),North Energy ASA (15 per cent) and Rock source (20 per cent; pending authority approval).

Lime Petroleum Norway AS plans to participatein at least another three wells during 2015:

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Lime Petroleum Norway AS is a wholly-owned subsidiary of Lime Petroleum Plc which is jointly-controlled (indirectly) byRex International Holding Limited (56.4%), Hibiscus Petroleum Berhad (35%), and Schroder & Co Banque SA (8.6%).