Asset transaction – PL 607

Today, Monday 30. June, Concedo  ASA and Total E&P Norge AS (Total) have completed the sale of Concedo’s 20% share in PL 607 to Total for an after tax consideration. The effective date  for the transaction is 1/1/2014, however, with the exception that Concedo has covered the cost of the Byrkje well drilled earlier this year. A second prospect; Gloppen, is planned drilled in 2015.