Geochemistry and Biostratigraphy, now a part of
ResLab’s services

ResLab, Reservoir Laboratories AS and Institute for Energy Technology (IFE)
have signed an agreement whereby ResLab acquires a significant interest in the
analytical company Applied Petroleum Technology (APT).

APT was formed 1^st March 2000 by IFE and four ex-employees of the oil company
Saga Petroleum. APT is a commercial analytical and consulting company, integrated
into IFE offices in Kjeller, near Oslo Norway.  The company offers its services to the
oil industry within petroleum geochemistry and biostratigraphy.

The establishment of APT came about after the merger between Norsk Hydro and
Saga Petroleum in 1999, when it was decided to terminate the geological laboratory at
Saga. Four ex Saga employees made an agreement with Hydro to purchase the
equipment and instrumentation from that very well equipped laboratory. IFE was the
best cooperation candidate at that time, both as collaborator and co-owner.

APT is well-organized company that prides itself on producing very high quality data
using its high specification instrumentation. APT currently has 14 employees and has
a network of associated staff. The company has achieved steady business growth
since its establishment in 2000 and now intends to take its business to the next level
internationally in association with ResLab. The company has developed an impressive
client portfolio comprising a broad range of E & P companies, fellow service
companies and significant research institutions.

APT biostratigraphic services have been mainly directed towards the Norwegian
Continental Shelf to date. APT is heavily engaged in updating geological models for
its oil companies clients in Norway.

APT has a close cooperation with the research environment of IFE, especially within
petroleum geochemistry. IFE will maintain a shareholding participation in APT and
an excellent platform has already been established for a close cooperation between the
three institutions.  

APT’s geological services will provide an important addition to the range of
laboratory services currently offered by ResLab around the world.  ResLab will now
build upon the sound geological services business that has been established by APT
since 2000.

APT is headed up by Tore Haaland, and we wish him and all of his co-workers a very
warm welcome to the “ResLab-family”.