MERCOM UPDATE

posted in: News | 0

With reference to today’s announcement from Mercom Oil Sands;

“The Board of Mercom is aware of today’s statement by Mauricio Trevino Zambrano
a minority holder of Mercom’s ordinary shares, that he has formed a company to
make a bid for Nordic Petroleum ASA and that, if he is successful, he intends
to enter into negotiation with Mercom to sell it a 100% interest in the four
Chard Oil Sands Leases. There is currently no arrangement or understanding
between Mercom and Mr Zambrano, but the Board of Mercom find today’s
announcement an encouraging sign of shareholder support and will follow any
developments with interest.”

Nordic Petroleum did on November 20th receive a letter to this effect, but the letter contained no factual information. The Board of Directors position is that any concrete bid containing proper documentation will be carefully reviewed. Mercom Oil Sands Plc is in breach of contract and has no legal right or interest in the Chard Leases. Nordic Petroleum has asked Mercom to adjust the public information accordingly, but the request is so far ignored.

Oslo, Norway 22.11.2012
Nordic Petroleum AS

Further enquiries, please call Per Gunnar Løge
Deputy chairman and head of negotiations
Mobile : +47 91 13 08 47
E-mail : nop@nop.as