Further to its press release of 15 May, Sequa Petroleum N.V. ("Company") announces that its 100% subsidiary  Tellus Petroleum AS has now received NOK 358,863,837 from the Norwegian tax authorities in relation to its cessation of E&P activity in Norway.

As previously stated, Management expects that debt restructuring and possibly new equity and/or debt funds will enable the Company to progress selected high quality appropriately sized acquisition targets of production and development assets elsewhere that are value-accretive and provide cash flow.

Contacts:
Jacob Broekhuijsen, Chief Executive Officer
+44(0)203-728-4450 or info@sequa-petroleum.com



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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sequa Petroleum NV via Globenewswire
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