Skyway status – Norwegian Petroleum Inc. well drilled at Carmangay south of Calgary

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Preliminary interpretation of well data

After interpretation of the well data from drilling, monitoring and wire-line logging, the company has now decided to perforate 7,5 m at 1416 – 1423,5 m.

This interval has the best porosity and permeability and is oil bearing containing most probably the classification of light oil. The flow testing will be started as soon as the rig has been moved off location early next week, so results from the testing should be available by the end of next week (week 10).

The company and its partners in the operation is extremely satisfied with the execution of the drilling, logging and all the preparation performed by the personnel in Norwegian Petroleum Inc. for this project. The project has been executed under the estimated time and approved (AFE) cost and budget. Since this will be an oil producing well, the company will save the cost and time to install pipeline with necessary tie-in equipment to the main gas transport pipeline in the first phase of the project.

After the test results have been interpreted the company will evaluate the size of the reserves and eventual if needed carry out 3D seismic survey.

Planning of the next well has been started to drill in the eastern part of the licenses.

Calgary, Canada/Fredrikstad, Norway February 26th 2009

Norwegian Petroleum Inc/ Nordic Petroleum ASA

Please call Mr. Arild Tolfsen for more info,
Mobile : +47 – 930 99859,
E-mail : arild.tolfsen@nop.as