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Noble Energy Starts Drilling On Benita well in Eq. Guinea

04-18-2008

Operator Noble Energy has started the drilling of an appraisal well on the Benita discovery in Block I off Equatorial Guinea. Noble has spudded the appraisal well I-5 on Block I with Transocean semisubmersible Sedco 700.

The well will appraise the extent of the oil and gas discovery made by the wells I-1 and I-2 earlier drilled on the Benita structure. Results from the drilling are expected to be available in the late second or early third quarter 2008.

This is the first well that is being drilled by the Sedco 700 as part of a two-well program in Block I during the second quarter of 2008.

Noble Energy has a 40 percent interest and the other partners are Atlas Petroleum International (29 percent) and Glencore (25 percent). PA Resources has a six percent working interest in Block I through its fully owned subsidiary Osborne Resources.