<p class=MsoBodyText><b><span lang=EN-GB>General</span></b></p>

<p class=MsoBodyText><span lang=EN-GB>Well 10/4.-1 was drilled to test the Zeppelin
prospect ca 35 km southeast of the Yme Field in the North Sea. The primary
objective was to evaluate the presence of hydrocarbons in sandstones of the Jurassic
Sandnes and Bryne formations. Secondary target were the Zechstein Group
limestones of Late Permian age.</span></p>

<p class=MsoBodyText><b><span lang=EN-GB>Operations and results</span></b></p>

<p class=MsoBodyText><span lang=EN-GB>Wildcat well 10/4-1 was spudded with the semi-submersible
installation Borgland Dolphin on 20 June 2015 and drilled to TD at 2415 m in
the Permian Zechstein Group. No significant problem was encountered in the
operations. The well was drilled with seawater and hi-vis pills down to 640 m
and with Innovert oil based mud from 640 m to TD. </span></p>

<p class=MsoBodyText><span lang=EN-GB>Top Sandnes Formation was encountered at
2274 m and top Bryne Formation at 2311 m.</span></p>

<p class=MsoBodyText><span lang=EN-GB>Both formation had sandstones with very
good reservoir quality. The Sandnes reservoir has an average porosity of 21.5
%, and the Bryne Formation 17.4 %, using a cut off value of 10%. The gross
thickness for the Sandnes Formation is 21 m with a net thickness of 19.15 m. The
well encountered the Bryne reservoir with a gross thickness of 53 m and net
thickness of 38.75 m. The water saturation is 100 % in both encountered
reservoirs. The expected Permian age limestone reservoir was not present at this
well location. All reservoirs were water-wet. The well also encountered sandstone
of undifferentiated Triassic age with good quality. The sandstone of 16 m gross
and 15.95 m net thickness had an average porosity of 23.7 %. It is water-wet. No
shows were observed in the well</span></p>

<p class=MsoBodyText><span lang=EN-GB>No cores were cut. No fluid sample was
taken.</span></p>

<p class=MsoBodyText><span lang=EN-GB>The well was permanently abandoned on 12
July 2015 as a dry well.</span></p>

<p class=MsoBodyText><b><span lang=EN-GB>Testing</span></b><span lang=EN-GB> </span></p>

<p class=MsoBodyText><span lang=EN-GB>No drill stem test was performed. </span></p>