Enterprise sell SNS assets

Enterprise Oil PLC
30 October 2001


         Enterprise announces sale of SNS assets to Consort Resources

Enterprise Oil has today announced that it has agreed to sell a package of
Southern North Sea assets to Consort Resources Limited for a consideration of
£28 million.

The assets, purchased by Enterprise as part of its acquisition completed in
August of Petrobras's UK holdings, include interests in the Johnston and
Anglia producing fields and the Orca/Beta potential gas development.

Enterprise will sell to Consort, subject to government and other consents, its
shares in Enterprise Oil North Sea Limited, formerly Petrobras North Sea
Limited, and its interest in Licence P.611, which contains the Orca/Beta
fields. The effective date for the agreement is 1 January 2001 and the sale is
expected to be completed by the end of the year.

Peter Kallos, General Manager UK, commented: 'This agreement demonstrates that
we are committed to realising value from non-core assets in order to focus our
resources on areas of greater potential, such as the appraisal and development
of the UK oil discoveries purchased from Petrobras. It remains a central aim
of the group to enhance its position as a key participant in the UK North Sea,
not least through the successful trading of assets where appropriate.'

Ends.

For further information, please contact:

Patrick d'Ancona, Head of Public Relations             [phone]



Notes to Editors

The interests to be sold by Enterprise comprise:


Licence                           Interest %    Notes

P.686 (Block 43/27)               10.0          7.3710 % in Johnston field

P.128 (Blocks 48/18b & 19b)       32.802        Anglia

P.1011 (Block 48/19e)             32.802        Anglia field area

P.611 (Block 44/24a)              12.5          Orca/Beta