CNOOC Contracts Drillship Energy Searcher

- CNOOC Contracts Drillship Energy Searcher

Monday, September 12, 2011
Northern Offshore, Ltd.

Northern Offshore, Ltd. on Sunday announced that CNOOC Palung Aru Ltd. ("CNOOC") has awarded a contract for the drillship Energy Searcher. The contract is for one well offshore Indonesia and has an expected duration of from 60-90 days, including travel time from and back to Singapore. Commencement is expected during October 2011. The estimated contract value for the program is from US$18-25 million, including mobilization fees.

Gary W. Casswell, Northern Offshore's president and CEO, said, "We are pleased with CNOOC's award of this contract for the Energy Searcher, and look forward to a successful drilling program. We remain optimistic of increasing activity in the region and are ready to get the rig back to work following its major shipyard and equipment refurbishment project."

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Searcher Seismic, Partner to Begin Seismic Acquisition in Bjornoya Basin

- Searcher Seismic, Partner to Begin Seismic Acquisition in Bjornoya Basin

Friday, June 10, 2011
Searcher Seismic Pty Ltd.

Searcher Seismic in conjunction with its project partner MAGE announced the commencement in acquisition of the Bjornoya Basin North (BBN11) 2D Non-Exclusive Seismic Survey in the Norwegian Barents Sea utilizing the seismic vessel the RV Professor Kurentsov. The survey is sponsored by Front Exploration, a "High North focused" exploration company based in Northern Norway.

The BBN11 2D Seismic Survey is a high resolution 2D seismic survey of 3,121 kms that in particular targets the shallow prospective sedimentary section along the Bjornoyrenna Fault Zone Complex. The survey provides a dense infill to the existing seismic data resulting in improved data coverage to a 1 x 1 km grid pattern. The BBN11 Survey will be seamlessly integrated with Searcher’s ongoing regional Havspurv 2D Seismic Survey utilizing similar high resolution acquisition parameters.

The BBN11 Survey provides a total coverage of 2100 sq.km located in the vacant area about 30 kilometers north of the recent giant Skrugard oil discovery (250-500MMbbl recoverable reserves).

The data is scheduled to be completed in processing during 4Q 2011.

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