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6608/10

128 D 1 2 Drill one firm exploration well (The well can be

drilled in PL 128 as long as the applied prospect is drilled)

Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

2 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

3 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:5 EP:20 64 Statoil Petroleum AS O 11,5 Eni Norge AS P 24,5 Petoro AS P 7122/8,9 229 D 1 2 G&G studies Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well (The well can be drilled in PL 229 as long as the applied prospect is drilled)

Enter extension period or drop Decision: Enter extension period or drop

IP:4 EP: PL 229 65 Eni Norge AS O 35 Statoil Petroleum AS P 6506/11 644 B 0 As for PL (644) As for PL Decision: As for PL (644) IP:As PL 644 EP: PL 644 30 OMV (Norge) AS O 20 Repsol Exploration Norge AS P

10

Skagen44 AS P

20 Centrica Resources (Norge) AS P

20

Faroe Petroleum Norge AS P

25/6, 26/4 678 SB 0 As for PL (678 S) As for PL Decision: As for PL (678 S) IP:As PL 678 S EP: PL 678 S 35 Wintershall Norge AS O 25 MOL Norge AS P 20 Fortis Petroleum Norway AS P

20 Lundin Norway AS P 6307/1,4 689 B 0 As for PL (689) As for PL Decision: As for PL (689) IP:As PL 689 EP: PL 689 40

DONG E&P Norge AS O

20

Tullow Oil Norge AS P

20 Det norske oljeselskap ASA P

20 Bayerngas Norge AS P 35/8 747 B 0 As for PL (747) As for PL Decision: As for PL (747) IP:As PL 747 EP: PL 747 60 Bayerngas Norge AS O 40 Capricorn Norge AS P 6404/9,12 , 6405/10 750 B 0 As for PL (750) As for PL Decision: As for PL (750) IP:As PL 750 EP: PL 750 60

Tullow Oil Norge AS O

40 Repsol Exploration Norge AS P

6507/2 760 C 0 As for PL (760) As for PL Decision: As for PL (760) IP:As PL 760 EP: PL 760 50

Total E&P Norge AS O

50

Lime Petroleum Norway AS P

7122/8,9 768 B 0 As for PL (768) As for PL Decision: As for PL (768) IP:As PL 768 EP: PL 768 30 Wintershall Norge AS O 25 Concedo ASA P 25 OMV (Norge) AS P 20 Petoro AS P

(2)

16/10 774 B 0 As for PL (774) As for PL Decision: As for PL (774) IP:As PL 774 EP: PL 774 40

Tullow Oil Norge AS O

30 Petrolia Norway AS P 30 Concedo ASA P 15/6 777 B 0 As for PL (777) As for PL Decision: As for PL (777) IP:As PL 777 EP: PL 777 40 Det norske oljeselskap ASA O

20 Spike Exploration Holding AS P

20 Wintershall Norge AS P 20 Petoro AS P 25/7, 10 782 SB 0 As for PL (782 S) As for PL Decision: As for PL (782 S) IP:As PL 782 S EP: PL 782 S 40 ConocoPhillips Skandinavia AS O 20

E.ON E&P Norge AS P

20

Statoil Petroleum AS P

20

Premier Oil Norge AS P

2/8, 9, 11

807 1 2 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

60

Edison Norge AS O

40

DONG E&P Norge AS P

2/1 ,2, 4, 5

808 1 2 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25 80 MOL Norge AS O 20 Edison Norge AS P 1/3, 2/1

809 1 2 Acquire and/or reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

50

Total E&P Norge AS O

50

Statoil Petroleum AS P

(3)

2/1, 7/12, 8/10

810 1 1 G&G studies

Reprocess 3D seismic or Drop Decision: Reprocess 3D seismic or Drop

2 2 Reprocess 3D seismic Drill or Drop Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 1 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

40

Faroe Petroleum Norge AS O

30

Wellesley Petroleum AS P

30 Centrica Resources (Norge) AS P

7/9,12, 8/7,10

811 1 1 G&G studies

Acquire 3D seismic or Drop Decision: Acquire 3D seismic or Drop

2 2 Acquire 3D seismic Drill or Drop Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:20

40 Centrica Resources (Norge) AS O

20 Origo Exploration Norway AS P

20

Tullow Oil Norge AS P

20

Faroe Petroleum Norge AS P

15/8,9,11, 12

812 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 40 Statoil Petroleum AS O 20 MOL Norge AS P 20 Origo Exploration Norway AS P

20 Fortis Petroleum Norway AS P

15/5, 6

813 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 1 Drill exploration well Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

3 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:4 EP:12

58,7

Statoil Petroleum AS O

8 PGNiG Upstream International AS P

3,3 Det norske oljeselskap ASA P

30

(4)

15/6

814 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

40 Det norske oljeselskap ASA O

30 MOL Norge AS P 30 OMV (Norge) AS P 16/5 815 1 1 Reprocess 3D seismic Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:6 EP:20

40

Lundin Norway AS O

20

Lime Petroleum Norway AS P

20

Concedo ASA P

20

Petoro AS P

17/4,7

816 1 2 Acquire new 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 2 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:20 70 Eni Norge AS O 30 Concedo ASA P 15/2,3 817 1 2 Reprocess 3D seismic Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

50 GDF SUEZ E&P Norge AS O

50

OMV (Norge) AS P

15/3

818 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

40 Det norske oljeselskap ASA O

30

Lime Petroleum Norway AS P

30

Statoil Petroleum AS P

(5)

25/8,9,11, 12

819 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

60

Suncor Energy Norge AS O

40 Spike Exploration Holding AS P

25/7, 8

820 S 1 2 Acquire and/or reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 40 MOL Norge AS O 30 Wintershall Norge AS P 30 Fortis Petroleum Norway AS P

24/12

821 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

60 Det norske oljeselskap ASA O

40

Core Energy AS P

25/2, 5

822 S 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

60 Det norske oljeselskap ASA O

40

Core Energy AS P

25/2

823 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

60

Statoil Petroleum AS O

40

(6)

31/4, 5

824 1 2 Acquire new 3D seismic (CSEM and/or DNME

feasibility study) Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25

40

Pure E&P Norway AS O

30 Origo Exploration Norway AS P

30

Concedo ASA P

30/3,6

825 1 2 Acquire and/or reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

40

Faroe Petroleum Norge AS O

30 Fortis Petroleum Norway AS P

30 Centrica Resources (Norge) AS P

29/3, 30/1, 33/12

826 1 3 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:20

40

Pure E&P Norway AS O

30

Tullow Oil Norge AS P

30

Concedo ASA P

35/10

827 S 1 3 Acquire and/or reprocess 3D seismic (CSEM

feasibility study) Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:20

40

Tullow Oil Norge AS O

30

Statoil Petroleum AS P

30

A/S Norske Shell P

36/4

828 1 2 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25 60 Statoil Petroleum AS O 40 Capricorn Norge AS P IP = Initial Period

(7)

6204/7,8, 10,11

829 1 3 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:25

50

Statoil Petroleum AS O

30 Spike Exploration Holding AS P

20

Petoro AS P

6307/1, 4, 6407/10

830 1 2 Reprocess 3D seismic (CSEM feasibility study)

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 40 Lundin Norway AS O 20 Statoil Petroleum AS P 20 VNG Norge AS P 20 Petoro AS P 6407/10, 6307/1 831 1 3 Reprocess 3D seismic Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:30

40

Suncor Energy Norge AS O

20 VNG Norge AS P 20 Lundin Norway AS P 20 Petoro AS P 6304/3, 6305/1, 6405/10, 6404/12

832 1 3 Acquire new 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 2 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:9 EP:25

45

A/S Norske Shell O

15

E.ON E&P Norge AS P

20 Centrica Resources (Norge) AS P

20

Petoro AS P

6407/8,9

833 1 2 Acquire 3D seismic (CSEM feasibility study)

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 40 Statoil Petroleum AS O 30 Core Energy AS P 30 VNG Norge AS P

(8)

6407/8,9

834 1 1 Acquire 3D seismic (CSEM feasibility study)

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:6 EP:20 40 Statoil Petroleum AS O 30 Core Energy AS P 30 VNG Norge AS P 6407/2, 3, 6, 6507/12 835 1 2 Acquire 3D seismic Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 60 Statoil Petroleum AS O 40 Core Energy AS P 6406/2,3

836 S 1 2 Acquire and/or reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25

40

Wintershall Norge AS O

30 Centrica Resources (Norge) AS P

30

Faroe Petroleum Norge AS P

6509/4,5, 6,7,8,9, 6510/4,5, 7, 8

837 1 2 Acquire new EM data

Acquire 3D seismic or Drop Decision: Acquire 3D seismic or Drop

2 2 Acquire 3D seismic Drill or Drop Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:9 EP:25

40

Statoil Petroleum AS O

20

E.ON E&P Norge AS P

20

Petoro AS P

20

A/S Norske Shell P

(9)

6507/5,6

838 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20

40 PGNiG Upstream International AS O

30

Tullow Oil Norge AS P

30

E.ON E&P Norge AS P

6507/1,2, 4,5

839 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well ((the well can be drilled in Skarv Unit as long as the applied prospect is drilled))

Submit PDO or Drop Decision: Submit PDO or Drop

IP:4 EP:13

23,8

BP Norge AS O

11,9 PGNiG Upstream International AS P

28,1

E.ON E&P Norge AS P

36,2

Statoil Petroleum AS P

6608/7,8

840 1 3 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:25 40 Statoil Petroleum AS O 20 Capricorn Norge AS P 20 Repsol Exploration Norge AS P

20

Skagen44 AS P

6608/8

841 1 2 Acquire 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25

40

Edison Norge AS O

20

Lime Petroleum Norway AS P

20 Statoil Petroleum AS P 20 Petoro AS P 6608/10,1 1,12

842 1 2 Acquire and/or reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25

40

Capricorn Norge AS O

30 Det norske oljeselskap ASA P

30

(10)

6608/12, 6609/7,8, 9,10,11,1 2

843 1 2 Reprocess 3D seismic

3D-seismic acquisition or Drop

Decision: 3D-seismic acquisition or Drop (or acquire new 3D-CSEM) 2 2 Acquire new 3D seismic (and/or acquire new

3D-CSEM) Drill or Drop Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:9 EP:25

40 Det norske oljeselskap ASA O

20

Pure E&P Norway AS P

20

Tullow Oil Norge AS P

20

Statoil Petroleum AS P

6609/5,6, 8,9

844 1 2 Acquire new 2D seismic

Acquire 3D seismic or Drop Decision: Acquire 3D seismic or Drop

2 2 Acquire 3D seismic Drill or Drop Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:9 EP:25

40

DONG E&P Norge AS O

20

Capricorn Norge AS P

20 Det norske oljeselskap ASA P

20

Petoro AS P

6609/6, 6610/4, 5, 6

845 1 2 Aquire 2D seismic (Reprocess 2D or/and 3D

seismic. Consider acqusition of 3D-CSEM) 3D-seismic acquisition or Drop Decision: 3D-seismic acquisition or Drop

2 2 Acquire new 3D seismic Drill or Drop

Decision: Drill or Drop

3 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

4 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

5 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:9 EP:25 40 ConocoPhillips Skandinavia AS O 20 Wintershall Norge AS P 20

DONG E&P Norge AS P

20

Faroe Petroleum Norge AS P

6605/6, 6606/4

846 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 60 OMV (Norge) AS O 40 Statoil Petroleum AS P IP = Initial Period

(11)

6706/5,6

847 1 2 Reprocess 3D seismic

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:20 40 Wintershall Norge AS O 20 Statoil Petroleum AS P 20 Repsol Exploration Norge AS P

20

OMV (Norge) AS P

7119/2,3, 5,6

848 1 2 Reprocess 3D seismic (3D CSEM feasibility study)

Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:7 EP:25 50 Statoil Petroleum AS O 30 Edison Norge AS P 20 Petoro AS P 7121/7,8, 9, 7122/7

849 1 2 Drill one firm exploration well

Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

2 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

3 2 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:6 EP:25 50 Statoil Petroleum AS O 30 Eni Norge AS P 20 Petoro AS P 7124/6, 7125/4,5, 6, 7126/1,4

850 1 3 Acquire new 3D seismic (minimum 1000 km2,

CSEM feasibility study) Drill or Drop Decision: Drill or Drop

2 2 Drill exploration well Concretize (BoK) or Drop Decision: Concretize (BoK) or Drop

3 2 Conceptual studies

Continuation (BoV) or Drop Decision: Continuation (BoV) or Drop

4 1 Prepare development plan Submit PDO or Drop Decision: Submit PDO or Drop

IP:8 EP:25 40 Edison Norge AS O 20 KUFPEC Norway AS P 20 PGNiG Upstream International AS P

20

References

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In Model 3, we account for consideration effects using information on stated thresholds. Consideration probabilities are now calculated within the choice model

Case (B) is uninteresting, since the optimal departure time in this case is t 0 whenever travel time is positive (a. s.) and the cost measure becomes a constant times the mean