Sale of Brage and Hyme completed
(Thomson Reuters ONE) -
Stavanger, 28 July 2011: Norwegian Energy Company (Noreco) is pleased to
announce that the sale of the company's interests in the Norwegian oil fields
Brage and Hyme to Core Energy has now been completed.
The consideration to Noreco is USD 85 million net of tax with effective date 1
January 2011. In addition a pro et contra settlement will be made for the
interim period between the effective date and the completion date of the
transaction.
The transaction will have a negative impact on the third quarter 2011 result
which is preliminarily estimated to NOK 123 million, of which NOK 19 million is
related to results from the interim period. The impact on the company's equity
ratio is expected to be slightly positive due to the reduction in total assets.
The company's liquidity position will be significantly improved.
Contact:
Kjetil Bakken, VP Strategy and Investor Relations (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1534347]
Unternehmensinformation / Kurzprofil:
Datum: 28.07.2011 - 12:44 Uhr
Sprache: Deutsch
News-ID 56800
Anzahl Zeichen: 1695
contact information:
Town:
Stavanger
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 148 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Sale of Brage and Hyme completed"
steht unter der journalistisch-redaktionellen Verantwortung von
NORECO (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
