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APA 2017 Awards

Posted: 16 January 2018

Stavanger 16th January 2018: Wellesley Petroleum AS (“Wellesley” or “The Company”) notes the Press Release issued today by the Ministry of Petroleum and Energy (MPE) announcing offers for Production Licences applied for in the APA 2017 licensing

round. Wellesley has been offered to participate in seven licences, including three firm well commitments. Wellesley will operate two of these licences. Two of the firm well commitments are in the Wellesley operated PL925 licence.

Chris Elliott, CEO of the Wellesley Group of companies commented: “We are pleased to be offered these licences which we believe to be highly prospective. We will now aim to work with our JV partners, suppliers and the relevant authorities to execute the firm well programmes and in other licences move the highest ranked opportunities towards drilling. As operator of PL925 Wellesley will assume the responsibilities of drilling exploration wells on behalf of the licence and the Company is fully focused on delivering the work programmes in a safe, transparent and efficient manner”

The MPE announcement can be found at the following link:

https://www.regjeringen.no/en/aktuelt/apa-2017--record-number-of-licenses-awarded-for-further-exploration-of-the-norwegian-continental-shelf/id2585803/

Press contact Chris Elliott, Wellesley Group CEO

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Wellesley Petroleum AS appoints Kari Langvik Ă˜sthus as new Norway Country Manager

Posted: 29 September 2017

Wellesley Petroleum AS, an oil and gas explorer focused on the Norwegian Continental Shelf appoints Kari Langvik Østhus to lead the company in Norway as the operator enters a new phase of activity.

Kari Langvik Østhus (36) is a co-founder

of Wellesley and has previously worked as an exploration geophysicist with Revus Energy, Wintershall and Cairn Energy. More recently, Kari has taken responsibility for managing Wellesley’s new venture projects.

- Kari has demonstrated very strong managerial talent in her most recent role. That, coupled with her deep understanding of exploration, makes her the ideal candidate to lead our Norwegian business forward, says Chris Elliott, CEO of the Wellesley Group.

Reflecting Wellesley’s strategy and future growth plans, the current Norway Country Manager, Callum Smyth (50) will take the post of Operations and HSE Manager.

- The changes in the management team reflect the new phase that the company is entering. It allows us to orientate towards a more operator-focused model, assuming responsibility for drilling of exploration targets matured in our licence portfolio, Elliott explains.

Wellesley has recently completed its first operated well (33/9-22S, Northern North Sea), two and a half years after the company was established.

About Wellesley Petroleum

Wellesley Petroleum is an independent oil company focused on exploration on the Norwegian Continental Shelf (NCS). Wellesley is a qualified operator on the NCS and has built an attractive acreage position to enable the company to be an active participant in exploration drilling in the coming years.
Wellesley is funded by Bluewater Energy LLP and associates, specialist investors in the energy sector.

www.wellesley.no

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Exploration drilling result: Well 33/9-22 S

Posted: 15 September 2017

Stavanger (15.09.17). Wellesley Petroleum AS (“Wellesley”) notes the NPD announcement of the results of well 33/9-22 S in Production Licence PL881 (see link below). The well is dry. Wellesley participates in PL881 with a 70% operated working interest.

Well

33/9-22 S was the first drilling operation conducted by Wellesley. The well was completed without incident and within budget.

www.npd.no/en/news/Exploration-drilling-results/2017/339-22-S/

Wellesley Petroleum is an independent oil company focused on exploration on the Norwegian Continental Shelf (NCS). Wellesley is qualified as an operator on the NCS and has built an attractive acreage position to enable the Company to be an active participant in exploration drilling in the coming years. Wellesley is funded by Bluewater Energy LLP and associates, specialist investors in the energy sector.
www.wellesley.no

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APA 2016 Awards

Posted: 17 January 2017
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