SOURCE: StatoilHydro

November 12, 2007 02:14 ET

StatoilHydro 3Q 2007 pro forma financial information and forecast

STAVANGER, NORWAY--(Marketwire - November 12, 2007) -

The merger between the oil and gas activities in Norsk Hydro ASA (Hydro) and Statoil ASA was effective on 1 October under the name StatoilHydro ASA (OSE: STL, NYSE: STO).

On 29 October, StatoilHydro presented its 3rd quarter 2007 results, excluding the oil and gas activities from Hydro.

On 30 October, Hydro presented its 3rd quarter 2007 results, including the oil and gas activity.

Today, StatoilHydro is publishing the consolidated pro forma financial information per 30 September for the combined company.

The attached unaudited pro forma financial information is on a preliminary basis and may be subject to change.

Production forecast 2007

StatoilHydro's total oil and gas production in 2007 is estimated to average around 1,735,000 barrels of oil equivalent (boe) per day, given an oil price of 60 USD/bbl and a gas off-take in line with a typical seasonal variation in the last quarter of 2007.

Capital expenditure forecast 2007

The investment level (CAPEX) in 2007 is estimated to be around NOK 65 billion, excluding acquisition costs related to North American Oil Sands Corporation, assets acquired from Anadarko in the Gulf of Mexico and interests in the Mariner and Bressay fields on the UK continental shelf.

Exploration forecast 2007

Exploration expenditure in 2007 is expected to be around NOK 15-16 billion, and a total of 65-70 exploration wells are expected to be completed in 2007.

Further information from:

Investor relations
Lars Troen Sørensen, senior vice president
investor relations, + 47 51 99 77 90
Geir Bjørnstad, vice president, US investor
relations, + 1 203 978 6950

Ola Morten Aanestad, vice president media
relations, +47 48 08 02 12 (mobile) or +47 51 99 13 77


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