NORWEST ENER GY NL ASX Announcement 11th January 2007Indian...

NORWEST ENER GY NL ASX Announcement 11th January 2007

Indian media announces that Bharat Petroleum Corporation (BPCL) has entered into agreements with Norwest on three offshore oil blocks

Over the last few weeks the Indian media has reported that BPCL has entered into agreements with Norwest Energy in respect of BPCL acquiring interests in North Sea Blocks 48/1b and 2c and the Timor Sea AC/P32 permit.

Norwest Energy advises that it has not entered into any formal agreements with BPCL at this stage, although it is able to confirm that negotiations are in
progress with BPCL in respect to both projects.

Any agreement that is reached with BPCL will be subject to the acceptance of other joint venture partners in the projects as well as any regulatory
authorities.

As soon as Norwest has executed formal agreements with BPCL it will advise accordingly.

For further information contact
Mr. Joe Salomon
Telephone: +61 8 9227 3240
Email: [email protected]