StatoilHydro Reports Higher Volumes on Dagny

Friday, October 10, 2008

StatolilHydrop is reported the size of the Dagny discovery in the is being upgraded to contain between 130 and 170 million barrels of oil equivalent after drilling of a sidetrack well has been completed.

The purpose of the sidetrack drilling was to delineate the Dagny discovery in order to determine the oil/water contact.

Including the Ermintrude find the total recoverable volume is estimated at 180-240 million barrels of oil equivalent.

The appraisal wells on the Dagny structure confirm that Dagny and Ermintrude, which was confirmed in 2007, have identical pressures and are located in the same structure. A joint development of Ermintrude and Dagny phased in to the Sleipner field is being evaluated.

Gas was confirmed in the Dagny discovery as early as in 1978. A creative exploration organisation presented the idea that there might be an oil column below the gas.

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