Nordic Energy Plc
LSE : NORP

February 25, 2013 02:00 ET

Intended Acquisition of Danish Licence

                                                                                               25 February 2013
                                                       
                                                                                                   GB00B893LZ79


                                               Nordic Energy Plc
                                          ("Nordic" or the "Company")
                                                       
                                    Intended Acquisition of Danish Licence

Nordic  Energy  Plc, the ISDX Growth Market Investment Vehicle focused on low cost entry opportunities  in  the
Danish,  Norwegian  and Dutch offshore oil and gas exploration and production sectors, is pleased  to  announce
that  the  Company has signed a Letter of Intent ("LOI") to acquire a large exploration licence in  the  Danish
North Sea ("the Danish Licence").

The  Danish  Licence was originally applied for in March 2012 by NikOil Limited ("NikOil"), a  private  company
jointly  owned  by Mr. Rudolf Kleiber, Mr. Patrick Rocholl and Mr. Jens-Christian Olsen. Mr.  Kleiber  and  Mr.
Rocholl  are  Directors of, and Mr. Olsen is a consultant to, Nordic. The Danish authorities are in  the  final
stages of processing NikOil's application. Pursuant to the LOI, Nordic and NikOil have agreed that Nordic  will
acquire the Danish Licence once it is awarded to NikOil, subject to the consent of the Danish Government.

The  3,600 sq km area covered by the Danish Licence originally formed part of Danish Exploration and Production
License  02-05, which was awarded in 2005 to Elko Energy Inc., a company founded by Mr. Kleiber and managed  by
him  until  2009. Based on technical work commissioned by Mr. Kleiber whilst at Elko, the Directors  of  Nordic
believe  that  the  Danish Licence area is highly prospective, containing a number of different  prospects  and
leads  that  have been mapped and independently confirmed by several specialists over a number  of  years.  For
example,  according to a 2010 Competent Person's Report by Tracs International Consultancy Limited, the  Danish
Licence  area  contains, totally or partially, 6 oil prospects and leads with a range of potential  recoverable
resources of 805 - 7,526 million barrels and 4 gas leads with potential recoverable resources of 1,084 -  7,304
BCF  gas.  The mapped structures occur at a range of geological horizons, i.e. Top Chalk, Top Rotliegendes  and
Top  Pre-Permian. Although all of the above leads and structures are deemed to be high risk (with a  chance  of
success below 10%), the Directors believe that the very large volumes that could potentially be discovered make
this  area  a  highly attractive exploration target. Further information on the application area will  be  made
available on the Nordic website at www.nordicenergyplc.com in due course.

Nordic has secured an option to acquire a pseudo-3D seismic data volume covering the Danish license area, which
is  presently being processed. Pseudo-3D is a new technology employed in seismic processing which the Directors
hope will reveal new information on the prospectivity of the license area.

The  consideration for the acquisition would comprise cash from the Company's existing resources  and  ordinary
shares of 0.1p each in the Company. The total value of the consideration payable by the Company is not expected
to be material.


The Directors of the Company are responsible for the contents of this announcement.

For further information please contact:

Nordic Energy Plc
Rudolf Kleiber                                                                         01932 865 111
Patrick Rocholl                                                                        07765  257063

Peterhouse Corporate Finance Limited
Duncan Vasey and Mark Anwyl                                                            020 7469 0930


Contact Information

  • Nordic Energy Plc