DNO ASA - Spud of the Lie prospect in PL305

Det Norske Oljeselskap ASA ("the Company"), listed on the OTC in Oslo (ticker NOIL), have today spudded the exploration well 24/9-8 on the Lie prospect. The Company is the Operator and hold a 30% interest in the license. This is the first well to be drilled by the Bredford Dolphin rig in the three year drilling contract the Company and six other operators in a consortium have with Dolphin.
The Company received earlier this week the approval of the Application for Consent of the well by the Petroleum Safety Authority (PSA). The 24/9-8 well is located west of the Grane Field and will be drilled in 123 m water depth to a TD of  2212 m MSL.
The other licensees are Revus Energy ASA (30%), Talisman Energy Norge AS (30%) and PA Resources Norway AS (10%).
Det Norske Oljeselskap ASA
17 July 2007