Oranje-Nassau Energie acquires Q16a license from NAM

Press release
6 May 2011

Oranje-Nassau Energie acquires Q16a license from NAM

Oranje-Nassau Energie B.V. ("ONE") is pleased to announce that it has agreed with the Nederlandse Aardolie Maatschappij B.V. ("NAM", a 50/50 Shell & ExxonMobil joint venture) to acquire NAM's 41,7% interest in the Q16a license, which includes the producing Q16-FA gas field and to take over NAM's operatorship of the asset. The acquisition, which will increase ONE's reserves with 2.5 million boe (barrels of oil equivalent) and production by 1,500 boe per day, is still subject to governmental approval.

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