We were awarded a 100% equity interest in Danica (Block 29/6a) in the 24th Licensing Round.  Oilexco has committed to drill a firm well to the Lista Formation within the next four years.  We currently possess the 3D seismic survey data.

Block 29/6a is located in the southwest corner of the West Central Graben, with the Danica prospect located on the upthrown side (West Central Graben Platform) of the main basin-bounding fault.  A sandstone injection complex in the Paleocene Balder level is evident on the 3D seismic survey.  This sandstone injection complex is similar to that encountered at Gryphon, Balder, Jotun, Grane, Hamsun, Chestnut and Alba Fields.