2009-08-18-2008-01-01

To acquire 12.5% interest in North Sea license to participate in PL283 in exchange for carrying expenses for remaining obligations. License includes 2005 Stetind gas discovery NW of Norne field.

Aker Exploration ASA, Oslo, plans to acquire a 12.5% interest in a North Sea license from Chevron Norge AS. Aker will acquire half of Chevron's 25% participation in PL283 in exchange for carrying Chevron's expenses for the remaining work obligations on the license. The license includes the 2005 Stetind gas discovery northwest of Norne field. A second exploration well is planned for first-quarter 2008. A third will depend on results of the second. Other license partners include StatoilHydro with 30%, ConocoPhillips Norge with 25% and Petoro with 20%.