Replies to post #199 on Statoil ASA (STO)

[eFinanceMarkets]

Statoil, Eni strike oil at Barents Sea probe

Statoil (STO +1%) and partners Eni (E +0.8%) and Petoro say they made an oil discovery at the Kayak wildcat in the Barents Sea that could boost volumes for the Johan Castberg development.

STO says the discovery, which totals 25M-50M recoverable boe, may provide valuable additional volumes for the Johan Castberg development and opens other exploration opportunities in the same area.

Separately, STO also says it started production at the Gina Krog oil and gas field in the North Sea, which has recoverable reserves of ~16.8M cm of oil, 11.8B cm of gas and 3.2MN metric tons of natural gas liquids.