DONG Energy increases its stake of the Hejre licence by 10% to a total of 60%. DONG Energy acquires the 10% stake from Bayerngas Norge AS (Bayerngas) for USD 48 million, equivalent to approximately DKK 230 million. The transaction also includes the acquisition of an 8% stake in the Hejre Extension license. Licence partner Petro-Canada Denmark GmbH has chosen to sell the company's Danish E&P-licences to Bayerngas, and it is a part of these, which DONG Energy now acquires from Bayerngas. The acquisition will increase DONG Energy's stakes in the Hejre and Hejre Extension licences to 60% and 48%, respectively. DONG Energy is the operator of the Hejre license, where a discovery was made in 2001. The license partners are in the process of preparing a plan for the development of the field. The plan is expected to be appraised in 2009. “The acquisition consolidates our presence in an area, where we are operator and thereby strengthens our position further on the Danish continental shelf,” says Poul Munk Andersen, Senior Vice President, DONG Energy. The remaining Hejre licence partners are Bayerngas, holding 15%, and StatoilHydro, holding 25%. In the Hejre Extension license the remaining partners are Bayerngas with a 12% stake and the Danish North Sea Fund and StatoilHydro, holding 20% each. DONG Energy is the operator of both licenses. The acquisition is subject to approval by authorities and partners. The information provided in this press release will not influence DONG Energy's expectations for the financial results for 2008, which as previously announced are expected to be in line with the financial results for 2007. For further information, please contact: Investor Relations Steen Juul Jensen +45 9955 9724 Media Relations Ulrik Frøhlke DONG Energy is one of Northern Europe's leading energy groups. We are headquartered in Denmark. Our business is based on procuring, producing, distributing, trading and selling energy and related products in Northern Europe. The company delivered revenue of DKK 41.6 billion in 2007 (approx. EUR 5.6 billion or USD 8.3 billion). DONG Energy has more than 5,000 employees. For further information, see www.dongenergy.com.
DONG Energy to increase Hejre field stake