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RNS Number : 1076C

Valiant Petroleum PLC

11 April 2013

Valiant Petroleum plc

PRESS RELEASE

11 April 2013

Storbarden Well Spud

Valiant Petroleum plc notes the following announcement by Rocksource ASA regarding the spud of the Storbarden well on PL 506S in Norway:

"Rocksource ASA ("Rocksource") is pleased to announce that drilling of the Storbarden well in PL 506S in the North Sea has commenced. This marks the return to drilling for Rocksource, and the first of five wells that the Company currently has lined up for drilling over the next two years.

Storbarden has been evaluated by Rocksource as a high risk/high reward prospect in the Stord basin, an under-explored part of the North Sea. The exploration well will test a new charge and retention model. The main Storbarden target is a stratigraphic trap in the Tertiary Balder formation, while the Langenuen prospect in the Utsira formation is defined as a secondary target.

Rocksource is the operator of the PL 506S licence with a 25 per cent working interest. The partners in PL 506S are Petoro (20 per cent), Petrolia (30 per cent) and Valiant (25 per cent). The well is being drilled by the semi-submersible rig Borgland Dolphin and is anticipated to take around 34 days to complete in a dry case scenario.

Oslo, 11.4.2013, Rocksource ASA"

In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Richard Morgan, UK Exploration Manager, who has over 28 years' relevant experience within the sector.

 
 Valiant Petroleum plc 
 Nick Ingrassia, Investor Relations       +44 (0) 1483 755 666 
                                         --------------------- 
 Brunswick Group (Public Relations) 
                                         --------------------- 
 Patrick Handley/ Catriona McDermott      +44 (0) 20 7404 5959 
                                         --------------------- 
 Oriel Securities Limited (NOMAD, 
  Joint Broker) 
                                         --------------------- 
 Michael Shaw/ Ashton Clanfield           +44 (0) 20 7710 7600 
                                         --------------------- 
 Jefferies Hoare Govett (Joint Broker) 
                                         --------------------- 
 Chris Zeal/Graham Hertrich               +44 (0) 20 7029 8000 
                                         ---------------------

ENDS

Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement nor, unless previously published by means of a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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