No oil at Statoil’s Tastaveden well

Petrolia Norway AS, a fully owned subsidiary of Petrolia SE, announces that drilling of well 25/9-4 Tastaveden in PL 628, offshore Norway, is about to be completed.

The main objective of Well 25/9-4 was to prove hydrocarbons in the Hugin Formation of the Vestland Group. The well encountered Hugin Fm sandstones of good reservoir quality, but was water wet. The well was
terminated 30 meters into the Sleipner Formation at 2397 meters subsea.

The well is located approximately 35 km northeast of the Grane Field in the Norwegian part of the North Sea

Well 25/9-4 Tastaveden was drilled with the semi-submersible rig Ocean Vanguard. Statoil Petroleum AS is the operator of the PL 628 license with 50 % interest. Partners are Petoro AS (20 %), Repsol Exploration
Norge AS (20%) and Petrolia Norway AS (10 %).