• 12/30/2011

    Sale of Zidane-1 gas discovery completed

    Stavanger, 30 December 2011: Norwegian Energy Company (Noreco) has completed the sale of its interest in license PL435 on Haltenbanken, containing the gas discovery Zidane-1, to OMV (Norge) AS.
  • 12/23/2011

    Sale of Siri field completed

    Stavanger, 23 December 2011: Norwegian Energy Company (Noreco) has completed the sale of its interests in the Siri field to DONG Energy.

    The agreement to sell Siri was announced in July this year. The price is USD 13 million with effective date 1 July 2011.

  • 12/7/2011

    New CFO in Noreco

    Stavanger, 7 December 2011: Norwegian Energy Company (Noreco) has appointed Mr. Ørjan Gjerde as new Chief Financial Officer (CFO).

    Ørjan Gjerde (42) has almost 20 years of experience within finance and management, and comes from the position as CFO in Malthus AS. He has previously had similar positions in Proserv Group and IKM Gruppen among others. Gjerde is a state authorised public accountant and resides in Sola near Stavanger ...

  • 12/6/2011

    Production November 2011

    Stavanger, 6 December 2011: Norwegian Energy Company ASA (Noreco) in November 2011 produced 3,810 barrels of oil equivalents (boe) per day. Net realised oil price was USD 115 per boe after adjustments for oil put options, inventory, NGL and gas prices.
  • 12/1/2011

    Repurchase of bonds completed

    Stavanger, 1 December 2011: Reference is made to Norwegian Energy Company ASA's (the "Company") announcement on 30 November 2011 regarding an offer to repurchase for cash up to NOK 250 million in combined principal amount in the two bonds NOR03 (ISIN: NO 0010548431) and NOR 07/12 6.00% Convertible Bond (ISIN: NO 0010368830) (the "CB").

  • 11/30/2011

    Tender offer - partial repurchase of own bonds

    Stavanger, 30 November 2011: Norwegian Energy Company ASA  (the "Company") has today mandated Arctic Securities ASA and Pareto Securities AS to repurchase for cash up to NOK 250 million in combined principal amount in the two bonds NOR03 (ISIN: NO 0010548431) and NOR 07/12 6.00% Convertible Bond (ISIN: NO 0010368830) (the "CB" and together the "Bonds").

  • 11/22/2011

    2012 financial calendar

    Norwegian Energy Company ASA (Noreco) has planned the following dates for disclosure of financial results in 2012:

  • 11/18/2011

    Noreco divests Brynhild field

    Stavanger, 18 November 2011: Norwegian Energy Company (Noreco) has entered into an agreement to sell its 20 percent share of license PL148 in the North Sea to Lundin Petroleum. The license contains the oil discovery Brynhild (previously called Nemo), where a Plan for Development and Operations (PDO) was recently approved by Norwegian authorities.

    Noreco will receive a consideration of USD 2.4 million upon completion of the transaction, ...

  • 11/3/2011

    Production October 2011

    Stavanger, 3 November 2011: Norwegian Energy Company ASA (Noreco) in October 2011 produced 4,569 barrels of oil equivalents (boe) per day. Net realised oil price was USD 105 per boe after adjustments for oil put options, inventory, NGL and gas prices.
     

    Production per field (boe):
    Nini East - 2.962
    Nini - 745
    Cecilie - 473
    Lulita - 285

  • 10/27/2011

    Noreco reports third quarter 2011 results

    Stavanger, 27 October 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) today presents its third quarter 2011 results, with a negative EBITDA of NOK 45 million and a net loss of NOK 393 million from continued operations.
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