Silverstone to drill Vanquish

Independent farms into ConocoPhillips blocks, targeting several undrilled gas prospects

Offshore staff

(UK) Silverstone Energy has completed a deal with BP and ConocoPhillips to drill two exploration wells in the UK southern North Sea. Under the agreement, Silverstone will farm into six blocks in the V fields/Viking area.

Two wells will be drilled over the coming year, starting in March with a well on the Vanquish prospect in block 49/16. Silverstone, a joint venture between Lime Rock Partners and Calgary independent Storm Ventures, has identified several other targets which will likely be drilled in 2007.

Helix RDS and Peak Group will manage subsurface and drilling service work. ConocoPhillips will operate any subsequent developments.

1/16/2006

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