Aker looking to drill Aegis

Offshore staff

STOCKHOLM, Sweden --Aker Exploration is taking a 30% stake in Norwegian North Sea license PL 304, operated by Lundin Petroleum.

Under the farm-in arrangement, Aker will provide the new harsh environment drilling rigAker Barents to drill a well on the Aegis prospect, probably in late 2008.

Assuming the Norwegian authorities approve the transaction, Lundin will retain a 50% interest in the license, with Endeavour Norge's holding reduced to 20%.

12/27/2007