Statoil Reports on Third Oil Discovery Off Coast of Canada, Found More Oil in Flemish Pass Basin

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Statoil (NYSE: STO) has made athird discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland.The discovery was made on the Bay du Nord prospect (EL1112), locatedapproximately 500 kilometres northeast of St. John's, Newfoundland andLabrador, Canada.This discovery is the second discovery for Statoil offshore Newfoundland thisyear. In June, a discovery was made at the Harpoon prospect, which is locatedapproximately 10 kilometres from Bay du Nord.

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