Revus Energy

Revus Energy (OSL:REVUS) Following successful completion of a side track on the Jordbær Central discovery announced in August, Revus Energy ASA (OSE: REVUS) is pleased to confirm the extension of the oil discovery in well 34/3-1A. The oil water contact was encountered as prognosed, and Revus Energy's internal preliminary estimates indicate recoverable reserves of between 57 and 100 mmboe. This range does not include potential volumes held in an undrilled segment of Jordbær Central.

Revus Energy (OSL:REVUS) Revus Energy (UK North Sea) Limited ('Revus') announces that it has entered into a farm-in agreement with EnCore Oil plc ('EnCore') to earn a 20 per cent interest in UK Central North Sea blocks 28/9 and 28/10c. Through the deal, Revus will obtain access to the 'Catcher' prospect which will be drilled in 2009.

Revus Energy (OSL:REVUS) Enclosed todays presentation held by CEO Harald Vabø at the annual Pareto Oil & Offshore Conference in Oslo.

Revus Energy (OSL:REVUS) Mr Svein Arild Killingland, Head of Corporate Development, has today purchased 6,000 Revus shares at a price of NOK 75.7583. Mr Killingland now controls 15,400 shares and 40,888 options in Revus Energy.

Revus Energy (OSL:REVUS) Revus Energy ASA (OSE: REVUS) has now formally completed the sale of a 10 per cent interest in production licences 316, 316B, 316CS and 316DS, including the Yme re-development project, to Lotos E&P Norge AS. The total sales price is USD 52.5 million including remaining tax balances. The financial effect for Revus will be a net profit after tax of approximately NOK 200 million.

Revus Energy (OSL:REVUS) Following the private placement completed on 21st August 2008 the new Company Certificate has been registered with the Register of Business Enterprises. Reference is made to the stock exchange notice of 21st August on the completed prive placement in connection with exercise of employees' share options in Revus Energy ASA. The Company has now received the Company Certificate in connection with the share capital increase resolved in a board meeting on 13th August.

Revus Energy (OSL:REVUS) 1. Participants in Revus Energy's share option program have 20.08.2008 exercised 16 795 options. As a result of the exercise, the Board of Directors, following the authority approved in the Annual General Meeting, has resolved to increase the share capital by NOK 4 198.75 from NOK 11 499 496.00 to NOK 11 503 694.75 by issuing a total of 16 795 new shares, each with a nominal value of NOK 0.25. 2. Options exercised by primary insiders 20.08.2008: Geir Hjellvik, CFO, has exercised 12 308 options in the Company, corresponding to 12 308 shares at the strike price of NOK 42.

Revus Energy (OSL:REVUS) Revus Energy ASA announces today that DONG E&P Norge, operator of production license 274 (Revus 15 percent), has made an oil discovery on the Ipswich prospect. Further investigations are necessary for determining if the discovery is commercial.

Revus Energy (OSL:REVUS) Revus Energy ASA will present its Q2 2008 results at Hotel Continental (Stortingsgaten 24/26), Oslo on Thursday 14 August at 08.30 hours. The presentation will be given by CEO Harald Vabø and Exploration Manager Svein Ilebekk. The presentation can also be followed by web cast live and on demand on Revus Energys web page www.revus.no

Revus Energy (OSL:REVUS) Revus Energy Group reported a net profit of NOK 49.0 million (USD 9.1 million) in the second quarter 2008, compared to a loss of NOK 7.5 million in the same quarter in 2007. A significant oil discovery on the Jordbær prospect marked a very successful exploration drilling campaign in the second quarter.