French energy giant TotalEnergies has kicked off drilling operations on the first of two infill wells to be drilled
during 2023 in the Tor reservoir at a field located in the Danish sector of the North Sea. These activities are being
undertaken with a Shelf Drilling-owned rig.

The drilling of the HBA-27B well is being carried out by Shelf Drilling's Shelf Drilling Winner (former Noble Sam
Turner) jack-up rig on behalf of the operator of the Danish Underground Consortium (DUC), which is a joint
venture involving TotalEnergies (43,2 per cent), BlueNord (36,8 per cent) and Nordsøfonden (20 per cent).
TotalEnergies is the operator responsible for the exploration and operation of DUC's 13 producing fields.

According to BlueNord, the drilling activities on the HBA-27B well in the Halfdan North East area will continue
over the next months. The well is scheduled to be on stream during autumn this year and is expected to have an
initial peak production rate of 3 mboe/day net to BlueNord where approximately 75 per cent is gas.

Marianne Eide, Chief Operating Officer of BlueNord, remarked: “I am very pleased to confirm that we have now
spudded the first well in the Danish Underground Consortium since 2019. This is the first of a planned seven-
infill well campaign. Combined with the high level of well intervention and well stimulation activity that is already
demonstrating significantly positive results, we are in a strong position to mitigate the natural decline of the
reservoir and maintain today's excellent production performance.”

Blue Nord claims that Halfdan is the largest producing field in Denmark and the Halfdan hub includes Halfdan
and Halfdan North East (NE) fields. The Halfdan main field was discovered in 1998 – brought on stream in 1999
– and Halfdan NE, which is a development of the gas accumulation in the Ekofisk formation to the North East of
the Halfdan field, in 2004.

The main field produces oil and gas from the Tor Chalk reservoir and has been developed in four phases, with 71
wells drilled and 35 currently active oil producers and 17 active water injectors. On the other hand, Halfdan NE
has been developed in three phases, and 21 wells have been drilled, with currently 16 active gas producers.

Furthermore, Halfdan entails two main groups of platforms, Halfdan A and Halfdan B, in addition to an unmanned
wellhead platform, Halfdan CA (North East). The produced oil is transported in a pipeline to Gorm while the gas
is transported to Tyra West. In addition, gas can be imported (for injection) and exported to Dan.

A few months ago, BlueNord submitted a licence application for acreage containing the Elly-Luke gas discovery
in the Danish part of the North Sea to participate in the Danish Ministry of Climate, Energy and Utilities' mini-
round of licencing. This asset is believed to have the potential to provide approximately 5 billion cubic meters of
natural gas to Denmark and Europe.