Friday, May 6, 2011

Noreco reports first quarter 2011 results

Norwegian Energy Company ASA (Noreco) presents its first quarter 2011 results, with EBITDA of NOK 97 million and a negative net result of NOK 295 million.

Q1 exploration activity
• Svaneøgle exploration well – non-commercial oil discovery
• Ronaldo exploration well – dry 
• Awarded two licenses in 21st NCS licensing round
• Planning for next Noreco operated well – Luna in Denmark

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