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Noreco starts first operated well in Norway

ID: 1003749
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(Thomson Reuters ONE) - Stavanger, 28 August, 2009: Norwegian Energy Company ASA (Noreco,OSE:NOR), Exploration drilling on the Tasta prospect in Norway startstoday. Noreco has a 40 per cent ownership share and is the operator.- This is our first well as operator in Norway, and marks animportant milestone in our efforts to build a leading, independentoil and gas company in the North Sea region, says Scott Kerr, NorecoCEO.The Tasta prospect is situated 15 km East of the Jotun field in theNorwegian part of the North Sea, in a very interesting license(PL412) in a prolific hydrocarbon province with infrastructure inplace. Noreco's resource estimate for Tasta is 34-91 million barrelshydrocarbons gross. More information is attached.The well is being drilled by the rig West Alpha. Results are expectedin October.Contacts:Scott Kerr, CEO (+47 992 83 890)Einar Gjelsvik, VP Strategy & Investor Relations (+47 992 83 856) announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Date: 08/28/2009 - 14:38
Language: English
News-ID 1003749
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