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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Paladin Resources (PLR)

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Monday 14 June, 2004

Paladin Resources

Norwegian Licensing Award

Paladin Resources PLC
14 June 2004

                             Paladin Resources plc

                      Norwegian 18th Licensing Round Award

Paladin Resources plc announces that its wholly owned subsidiary, Paladin
Resources Norge AS ("Paladin"), has been awarded a 50 per cent interest and
operatorship of four blocks and one part block in the Norwegian 18th Licensing

Paladin (50 per cent) and partners, Pertra AS (30 per cent) and Revus Energy AS
(20 per cent) have been awarded blocks 9/2, 9/3, 9/6 and 10/4, and part-block 9/
5 (in all blocks for stratigraphic horizons down to 200 metres below base
Jurassic) in return for a firm work programme to acquire at least 800 square
kilometres of 3D seismic in blocks 9/6 and 10/4 and to drill one exploration
well to the pre-Jurassic within four years of licence award.

The blocks lie in the relatively under-explored Egersund Basin ca.100 kilometres
to the south west of Stavanger. However, the presence of hydrocarbons is proven
in the area, primarily by the Yme Field, a 39 degree API oil discovery in Middle
Jurassic sandstones with some 280 million barrels of oil originally in place.
This field, which lies within the awarded blocks, was developed using a leased
jack-up rig and floating storage vessel in 1996, but was abandoned in 2001,
having recovered 51 million barrels of oil. Field production rates prior to
abandonment were 22,000 barrels of oil per day.

A number of Middle Jurassic prospects with standalone potential, analogous to
the Yme Field, have been identified on the existing seismic data base. In
addition, preliminary analysis indicates that there may be scope for
redevelopment of the Yme Field using innovative contractual arrangements and
latest production well technologies to improve recovery factors. Both the
exploration potential and Yme redevelopment options will be evaluated in detail
in the coming months.

Roy Franklin, Chief Executive of Paladin Resources plc, commented:

"This operated licence award constitutes a significant addition to our Norwegian
portfolio; in a relatively under-explored proven hydrocarbon basin, the
identified exploration prospects are of a size that is material for a company
such as Paladin and well  worth pursuing aggressively, as is the possibility of
redeveloping Yme."

                                                                    14 June 2004


Paladin Resources plc                                Tel. 020 7024 4500
Roy A.Franklin, Chief Executive
Cuth McDowell, Finance Director

College Hill                                         Tel. 020 7457 2020
James Henderson
Nick Elwes

                      This information is provided by RNS
            The company news service from the London Stock Exchange               BKDQAD

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