Herbsheim exploration license awarded

BLUEBACH RESSOURCES (Bluebach), a wholly owned subsidiary of MOORE Energy AS, has been awarded a new conventional hydrocarbon exploration license in Alsace, France.

Bluebach was awarded the “Herbsheim” hydrocarbon exploration license on a 100% working interest basis for an initial five years period. The license covers 506 km2 and is located on the French side of the Rhine Graben, south of our “Seebach” and “Soufflenheim” licenses.

The license comprises proven oil bearing Tertiary sands and Jurassic limestones which have produced hydrocarbons in the neighbouring "Eschau" production concession (France) and Offenburg oil field (Germany). In addition the license contains the potentially rich Triassic which is one of the main exploration plays on the German side of the Rhine Graben following the "Speyer" discovery (Germany).

Lars Johan Frigstad, CEO of MOORE Energy, says: “we are delighted with the award of this new conventional license in France, which makes the company the largest acreage holder in Alsace and which allows the company to further unfold its long term plans for becoming one of the main E&P players in France”.

The Herbsheim license fits well with MOORE Energy’s strategy to redevelop abandoned oil and gas fields as well as to explore for additional resources in oil producing areas using the latest imaging and drilling technologies.

MOORE Energy is a Norwegian oil and gas exploration and production company with focus on conventional resources in France.