Odin Energi A/S is a privately owned Danish oil company with exploration and production licenses in Lithuania and Denmark. Odin is evaluating other projects in and around the Baltic area.

LITHUANIA GARGZDAI LICENSE

An Odin led group of companies was granted the Gargzdai License in Lithuania in 1995. Odin owns 21% of the shares in Minijos Nafta, the joint venture company which holds the license, and Odin provides the management for the company.

DENMARK

In Denmark Odin originated a new play concept based on the idea that a previously unknown localized source rock kitchen exists in northeastern Denmark. Odin has a 10% interest in license 1/02 and a 10% interest in license 1/03. Tethys Oil is the operator for both licenses.