PL630 (NCS Part blocks 31/1 & 35/10) Agora 20%, Statoil Petroleum AS (Operator) 40%, GDF SUEZ E&P Norge AS 20%, Idemitsu Petroleum Norge AS 20%

This acreage, lying to the west of the Fram Field in the Northern North Sea contains prospectivity at Jurassic, Cretaceous and Palaeocene levels. The work programme is to reprocess existing seismic in order to de-risk one of the identified opportunities sufficiently to allow exploration drilling.

PL632 (NCS Part block 33/9) Agora 40%, Statoil Petroleum AS (Operator) 60%

Upper Jurassic prospects are targeted in this acreage, which lies to the north of the Statfjord Field. The planned work programme involves seismic reprocessing and geological studies with the aim of de-risking one or more of the identified prospects to the level at which an exploration well can be justified.

P1659 (UKCS Block 20/7) Agora (19%) Nexen Petroleum U.K. Limited (Operator) 51%, MPX North Sea Limited (15%) and Carrizo Bardolph UK Ltd (15%).

This licence lies to the south of the Buzzard and Ettrick fields in the Outer Moray Firth. A firm well has been committed to drill the Bardolph Prospect, an Upper Jurassic hanging wall trap with a stratigraphic upside element. It is anticipated that the well will be drilled in July 2012

PL299 (NCS Part block 2/1): Agora 28.5%, Talisman Norge AS 31.5% (Operator), Dong E&P Norge AS 40%

PL 299 is located in the Central North Sea, southwest of the producing Gyda Field. The partnership has identified the Frode structure, which is believed to comprise Upper Jurassic reservoir, analogous to that present in Gyda. It is hoped that the Frode Prospect will be drilled in the second half of 2012.

P1632 (UKCS 211/8c and 13c): Agora 20%, Valiant Exploration Limited 80% (operator).

Located at the extreme northern margin of the North Sea, these blocks contain prospectivity at Upper and Middle Jurassic level. In 2010 the partnership made an oil discovery in the Tybalt Prospect with well 211/8-4. A subsequent sidetrack and successful well test demonstrated commercial potential, and appraisal planning and development screening studies are ongoing. Tybalt comprises an Upper Jurassic turbidite reservoir system, and the unexpectedly long oil columns encountered indicate a complex trapping mechanism that provides potential for larger in-place volumes than anticipated in pre-drill estimates.

P1680 (UKCS 210/29c & 30b): Agora 20%, Sterling Resources (UK) Limited 25% (operator), Valiant Exploration Limited 30%, Wintershall (UK North Sea) Limited 25%.

This licence is situated in the Northern North Sea, immediately to the south and east of the Upper Jurassic Cladhan Discovery. The Cladhan South prospect is an analogous Upper Jurassic stratigraphic trap to that proven at Cladhan, and it is expected that an exploration well will be drilled on the prospect in late 2011 or early 2012.

P1633 (UKCS 211/11b & 16b): Agora 35%, MPX North Sea Limited 15% (operator), Wintershall (UK North Sea) Limited 35%, Sorgenia E&P (UK) Limited 15%.

Situated in the Northern North Sea, these blocks contain several prospects at Middle and Upper Jurassic level. An exploration well will be drilled in Q3 2011 targeting the Timon Prospect, an Upper Jurassic stratigraphic trap.

P1482 (UKCS 110/26b & 27c): Agora 10%, Serica Energy (UK) Limited 65% (operator), MPX North Sea Limited 25%.

These blocks lie within the gas-prone Triassic play of the East Irish Sea. Agora farmed into the block in January 2010. A well targeting the Conan Prospect was announced as dry in June 2010. Remaining prospectivity is present in the Doyle Prospect and an active work programme is underway to assess if this target can be sufficiently de-risked to justify an exploration well.

P1430 (UKCS 28/9 & 10c): Agora 15% Encore Petroleum Limited 15% (operator), Premier Oil UK Limited 35%, Wintershall (UK North Sea) Limited 20%, Nautical Petroleum PLC.

This Central North Sea licence was relatively unexplored when Agora farmed into P1430 in April 2010, prior to the drilling of 28/9-1, the first well on the block. In June 2010, the partnership announced that this well had made a significant oil discovery in the Paleocene-aged Catcher Prospect. A subsequent sidetrack proved further volumes in the adjacent Catcher East prospect in a reservoir of Eocene age. The presence of good quality oil in this part of the basin opened up further on-block prospectivity and a second drilling campaign was conducted between October 2010 and March 2011, which resulted in further discoveries at Varadero, Catcher North and Burgman. The Greater Catcher area is one of the more significant UKCS discoveries of recent years and development planning is now underway. Simultaneously, exploration activity remains high to identify and rank the remaining prospects for future drilling.

PL418 (NCS Part blocks 35/8 & 9): Agora 20%, Wintershall Norge ASA 45% (Operator), Bayerngas Norge AS 20%, Edison International Norway Branch 15%.

PL 418 is located in a prolific part of the North Sea, west of the Gjøa Field and north of the Fram fields. The principal play in the area is the Upper Jurassic, Viking Gp. sandstones, which is also the target in the main prospect of PL 418, the Skarfjell Prospect. A firm well has been committed to test the prospect and operations are planned to start in Q1 2012.

PL370 (NCS Part blocks 33/5 & 6): Agora 30%, Wintershall Norge ASA 40% (Operator), Concedo ASA 20%, North Energy ASA 10%.

PL 370 and 370b are located in the northern North Sea, adjacent to the median line with the UK. The partnership has committed to drill one firm. The target will be the Kakelborg Prospect, a seismic amplitude-supported prospect at Paleocene level. The well is planned to spud end of Q2 2012. Additional prospectivity is identified at Jurassic level.

PL 370/370b lies some 10 km east of Agora’s Tybalt discovery in the UK. A successful hydrocarbon discovery in the Norwegian acreage may allow for cross-border development.