Arabian Oil Company has acquired a 10% interest in exploration acreage PL332 through Norske AEDC AS (NAEDC), a wholly owned Norwegian subsidiary of AOC, from Talisman Energy Norge AS, subject to final approval of Norwegian government.

PL332 is located approximately 20km east of Gyda oil field where NAEDC holds its interest and participates in oil producing operations. The newly acquired acreage is evaluated as prospective area since there are a number of promising prospects as well as an oil and gas field which have been already discovered but not been developed. Commencement of forthcoming exploratory drilling will be fixed and decided through consultation with Talisman (operator) and other concerned partners.

Outline of Acquired Acreage License No. : PL332 Acreage : 565.894 km2 Location : 270 km southwest of Stavanger, Norway or 20 km east of Gyda oil field

Interests Holders: Norske AEDC AS 10% Talisman Energy Norge AS 40% (Operator) Det norske oljeselskap ASA 40% PA Resources Norway AS 10%

Tags: Arabian Oil Company, Talisman Energy