Appraisal completed

August 4, 2000, 17:00 CEST

Gas and condensate have been found by Statoil with an appraisal well drilled in the Halten Bank South area of the Norwegian Sea.

Located south of the group's Kristin and Lavrans discoveries, was intended to delineate its existing Ragnfrid find.

The well was drilled in 302 metres of water to a total depth of 4,818 metres below sea level, terminating in early Jurassic sediments.

No production testing took place, the well has been permanently plugged and its results are now being evaluated.

Transocean Arctic, which carried out the work, has now been transferred to NorskHydro.

Statoil's partners in the licence are the state's direct financial interest, ExxonMobil and Hydro.