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Paladin Resources (PLR)

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Monday 04 July, 2005

Paladin Resources

Enoch Field Approval

Paladin Resources PLC
04 July 2005

Paladin Resources plc

UK and Norwegian Government Approval for Enoch Field Development

Paladin Resources plc announces that its wholly owned subsidiary, Paladin Expro
Limited ("Paladin"), and its joint venture partners have received approval from
both the UK and Norwegian Governments for the development of the Enoch oil
field, which straddles the UK / Norway median line.

The Enoch Field is operated by Paladin (24.00%) on behalf of the UK and
Norwegian partners, which include Bow Valley Petroleum (UK) Ltd (12.00%), Dyas
UK Ltd (14.00%), Petro-Canada UK Ltd (8.00%), Dana Petroleum (E & P) Ltd
(8.80%), Roc Oil (GB) Ltd (12.00%), Lundin North Sea Ltd (1.20%), Statoil ASA
(11.78%), Total E & P Norge AS (4.36%), DNO AS (2.00%) and DONG Norge AS
(1.86%).

The Enoch Field was discovered in 1985 by UKCS well 16/13a-3 and was later
appraised by four more wells, two of which were drilled in the Norwegian sector
in Block 15/5. The field contains oil and gas trapped in sands of the Eocene age
Flugga Sandstone. Perceived trans-boundary complications and commercial
difficulties have since then prevented development progress.

The field will be developed at an anticipated cost of approximately £75 million
by a single subsea production well, tied back using new subsea infrastructure,
to the Marathon operated Brae A Platform, located 15km North-West of Enoch in
UKCS Block 16/7. Enoch oil will be exported from Brae A through the Forties
Pipeline System and sold at Kinneil, whilst Enoch gas will be sold offshore to
Brae A. Production will start in late 2006 at a rate of over 12,000 barrels per
day.

Commenting on the development approval of Enoch, and on the development approval
of the Blane Field also announced today, Roy Franklin, Chief Executive of
Paladin Resources plc, said:

"We are delighted to have received development approvals for both Blane and
Enoch which set new standards in UK and Norwegian cross-border co-operation for
efficient exploitation of remaining resources in a maturing North Sea. Since
taking over the operatorship of Blane and Enoch in March 2004, Paladin has
received wholehearted support and co-operation from all the major stakeholders,
including the DTI in the UK, the MPE in Norway and the joint venture partners
and contractors, enabling timely delivery of these projects."

                                                                   4th July 2005

ENQUIRIES:

Paladin Resources plc                                 Tel: 020 7024 4500
Roy A. Franklin, Chief Executive
Cuth McDowell, Finance Director
Colin Reid, UK General Manager                        Tel: 01224 615600
Tim Bushell, Norway General Manager                   Tel: +47 5121 2200

College Hill                                          Tel: 020 7457 2020
Jim Joseph
Ben Brewerton

Notes for Editors

The Enoch oil field is located across the UK / Norway median line, in UKCS
Block 16/13a (Licence P219) and NCS block 15/5 (Licence PL048B). The field has
been unitised across the median line as follows:


Licences           Owners                  Licence Interests (%)    Unit Shares*

                                                                         (%)
Licence P219       P219 Group

                   Paladin Expro                 30.00                    24.00

                   Dyas                          17.50                    14.00

                   ROC                           15.00                    12.00

                   Bow Valley                    15.00                    12.00

                   Dana                          11.00                     8.80

                   Petro-Canada                  10.00                     8.00

                   Lundin                         1.50                     1.20

                                                100.00                    80.00

Licence PL048B     PL048B Group

                   Statoil                       58.90                    11.78

                   Total Norge                   21.80                     4.36

                   DNO                           10.00                     2.00

                   DONG Norge                    9.300                     1.86

                                                100.00                    20.00

    * calculated using provisional Tract Participations of 80:20


The field will be developed by a single subsea well, drilled in UKCS Block 16/
13a, which will produce oil and gas. The well will be tied back using new subsea
infrastructure to the Marathon operated Brae A Platform located 15km North-West
of Enoch in UKCS Block 16/7. Modifications will be carried out on Brae A to
support the subsea infrastructure and process and meter the Enoch produced
fluids. The Enoch oil will then be exported from Brae A through the Forties
Pipeline System and sold at Kinneil, whilst Enoch gas will be sold offshore to
Brae A.


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