Norwegian E&P Aker Exploration has acquired an additional 30% interest in production license 460 covering parts of blocks 25/1, 25/2 and 24/3 in the northern part of the North Sea from StatoilHydro, Stavanger, Norway, (NYSE: STO) for an undisclosed price.

Aker was awarded a 30% interest in this license in February and this transaction increases the company's total interest in the license to 60%. Det norske oljeselskap ASA is operator with a 40% interest. The license partners have already committed to drilling an exploration well within a two-year period.

EuroGas Inc., New York, (Pink Sheets: EUGS) plans to acquire 45% interest in privately held, U.K-based McCallan Oil & Gas (UK) Ltd. from Regent Ventures Ltd., Calgary, (CDNX: REV) for C$3 million in cash and approximately US$2.8 million in stock in a total deal valued at US$5.8 million.

McCallan's s main assets are its subsidiaries EuroGas Polska and EuroGas (Austria) GmbH. The remaining 55% interest in McCallan is held by private investors.

EuroGas Polska is a Polish private E&P with coalbed-methane interest in the Upper Silesian coal basin in Poland. EuroGas Polska also owns a 24% interest in a joint-operating agreement (JOA) with Poland's national oil and gas company Polish Oil and Gas Co., which owns a 51% interest in the agreement and is the operator. The balance of 25% is held by U.K-based Aurelian Oil & Gas Plc (London: AUL).

The sole asset of the agreement is a block of 10 oil and gas concessions in the Carpathian Mountains.

EuroGas Austria is a private Austrian company, and its main asset is a 33% shareholding interest in private Slovakian mining company Rozmin SRO which holds a mining concession to develop the huge Gemerska Poloma talc ore body.

Spencer Clarke LLC is financial advisor to EuroGas.

Norwegian Energy Co., Stavanger, Norway, (Oslo: NOR) (aka Noreco) plans to acquire Talisman Oil Denmark Ltd., a subsidiary of Talisman Energy Inc., Calgary, (NYSE; Toronto: TLM) for US$83 million.

Talisman's interests in the Danish sector of the North Sea include a 30% nonoperated interest in license 6/95, which contains Siri Field. Noreco owns a 20% interest in the field, and will hold a 50% share following the acquisition. Noreco also holds significant interests in the area including Cecilie, Nini, Nini East and Rau fields.

Production from Siri Field for 2007 averaged approximately 2,600 barrels of oil equivalent per day. Proved reserves were 2.1 million barrels equivalent as year-end 2007.

Talisman president and chief executive John Manzoni says, "As we move into the early phases of Talisman's new strategy, we will focus our portfolio on our core areas."

Closing is expected in June. The effective date is Jan. 1.

Sterling Resources Ltd., Calgary, (Toronto Venture: SLG) has signed farm-out agreements with Petro Ventures Ltd., a subsidiary of Australia-based Petro Ventures International Ltd., in the Breagh area of the North Sea.

Petro Ventures will earn a 20% working interest in license P1231 (blocks 42/19, 42/20 and 42/24) and license P1524 (blocks 42/2b, 42/3 and 42/4) and a 15% working interest in license P1327 (Blocks 42/8, 42/9 and 42/14). The agreement requires the first well to be drilled in each of the P1231 and P1327 licenses. Sterling will retain an 80% working interest in licenses P1231 and P1524, and 60% in license P1327. Sterling will consider further farmouts prior to drilling.

The first well planned for P1231 is scheduled for 2008 as part of the recently announced program for the Ensco 70 jack up rig.