Announcement of the First Licensing Round 2009 — Continental Shelf between Iceland and Jan Mayen “The Dreki Area” 22.01.2009

The National Energy Authority of Iceland (NEA), by the authority of the Ministry of Industry, Energy and Tourism, has today, 22nd of January 2009, announced the first Licensing Round for hydrocarbon exploration and production licenses on “The Dreki Area” in accordance with Icelandic laws and regulations, as well as international agreements between Iceland and Norway.

Individual applications for licenses may cover one or more of the blocks or part of blocks, up to a maximum of 800 km2. The number of licenses on offer is up to five (5) as a maximum. Applicants are also encouraged to nominate a secondary area in case of an area of first choice overlapping with other applications.

Applications for hydrocarbon exploration and production licenses shall be submitted to the NEA:

The National Energy Authority (NEA)
Grensasvegi 9
108 - Reykjavik
Iceland.
e-Mail: os@os.is
www.nea.is (English)
www.os.is
Tel. +354-569-6000
Fax: +354-568-8896

The application deadline has been set to 1600 hrs. GMT on 15th of May 2009. The awards are scheduled to take place before the end of October 2009