Concedo doubles on Novus (PL645)

Through a farm-in deal with Faroe Petroleum, Concedo ASA has acquired an additional 5%
interest in PL645, and has now a total interest of 10% of the licence.

Faroe Petroleum (30%) operates PL645, and other partners are Centrica (40%), Skagen 44 (5%), Spike (15%) and Concedo (10%).

The Novus prospect is located some nine kilometers south west of the Heidrun Field, and is expected to be drilled Q3 2013.

Faroes Operational update can be read here

(Bildet tilhører Faroe Petroleum)