Further to the announcements of April 6 and May 24 2005, Paladin Resources plc announces that its wholly owned subsidiary, Paladin Expro Limited, has completed the acquisitions of Elf Exploration UK plc’s (an affiliate of Total E&P UK plc) 19.2366 per cent non-operated interest in Licence P.357 (Block 22/19a) in the UK Central North Sea (“the Licence”) and a 32.59317 per cent interest in the Licence from Nippon Oil Exploration and Production U.K. Limited.
Block 22/19a contains the Fiddich gas and condensate discovery, which lies approximately 20 km to the south east of the Paladin-operated MonArb Fields.
Partner interests in the Licence are: Paladin Expro Limited (operator) 51.82975 per cent, NOEPUK 38.17025 per cent and Noble Energy (Europe) Limited 10 per cent.
