Revus Energy

Revus Energy (OSL:REVUS) Revus Energy ASA announces that well 210/29a-4 has encountered an oil column in excess of 110ft (34m) with no observed oil-water contact, in an Upper Jurassic sequence below 9,450ft (MDRT) containing 25ft (8m) of sandstones with log porosity exceeding 20% and showing high oil saturations. Although the well will not be flow tested, an extensive pressure test measurement programme and the collection of oil samples through a Modular Formation Tester (MDT) logging tool, suggest good reservoir mobility and therefore promising productive potential. The well will be suspended providing the group the option to re-enter, side-track, flow test, at a later date, once the data-set collected has been evaluated for potential resource size and commercial options.

Revus Energy (OSL:REVUS) Revus Energy ASA announced today that Bredford Dolphin has commenced drilling of the appraisal well on the Luno discovery in PL 338.

Revus Energy (OSL:REVUS) Revus Energy E&P Limited (a wholly owned subsidiary of Revus Energy ASA) has been offered for award, six North Sea licences in the UK 25th offshore Licensing Round. The overall work programme attached to the offer includes five firm wells. The award marks a step-change in Revus Energy's UKCS position.

Revus Energy (OSL:REVUS) Attached today's results presentation held by CEO Harald Vabø in Oslo.

Revus Energy (OSL:REVUS) Revus Energy Group reported a net profit of NOK 137.2 million (USD 20.5 million) in the third quarter 2008, compared to NOK 418.0 million in the same quarter in 2007. The operational highlight of the quarter was the confirmation of a significant oil discovery on the "Jordbær" prospect in PL 373 in the Norwegian Continental Shelf.

Revus Energy (OSL:REVUS) In connection with the voluntary offer from Wintershall Norwegen Explorations- und Produktions-GmbH to acquire all issued and outstanding shares of Revus Energy ASA, the Board of Revus Energy ASA has unanimously recommended the offer. Enclosed is the statement from the Board of Revus Energy ASA.

Revus Energy (OSL:REVUS) Wintershall Holding Aktiengesellschaft ("Wintershall") has reached an agreement with Revus Energy ASA ("Revus") (OSE:REVUS), to launch a recommended voluntary offer (the "Offer") for 100 per cent of the shares of Revus. A cash consideration of NOK 110 will be offered per share, valuing the total share capital of Revus at approximately NOK 5,040 million (approximately USD 740 million).

Revus Energy (OSL:REVUS) Net Revus production for 3rd quarter 2008 was 6039 boepd which is 14% below the company's guiding for the quarter. The shortfall is mostly due to a longer revision stop and slower production build-up than planned on the Murchison field plus the Broom field not meeting Revus' expectations of production level after the revision stop earlier this summer. Given the third quarter production performance and expectations for the rest of the year, the company's estimate for total average daily production for 2008 will be 6000 boepd net Revus, which is 6% below the previous guiding at 6400 boepd.

Revus Energy (OSL:REVUS) Revus Energy ASA is pleased to report that operations on the Cladhan exploration well on Block 210/29a in the United Kingdom Northern North Sea have commenced, with the arrival of the Transocean 704 semi-submersible rig at the site.

Revus Energy (OSL:REVUS) Revus Energy ASA has entered into an agreement with Spring Energy to farm out a 30 per cent working interest in production license PL 344 in the Northern North Sea.