Noreco sells Flyndre discovery
(Thomson Reuters ONE) -
Stavanger, 22 August 2011: Norwegian Energy Company (Noreco) has entered an
agreement to sell its share of the Flyndre Paleocene discovery to Maersk Oil for
a consideration of NOK 19 million.
Flyndre Paleocene is a cross border discovery operated by Maersk Oil, of which
the Norwegian part is located in license PL018C where Noreco holds a 13.338
percent interest.
Noreco's estimated share of proved and probable reserves in this discovery is
0.4 million barrels of oil equivalents. The license also contains a discovery in
the Cretaceous formation which will be carved out and retained by Noreco.
The Flyndre sale is expected to have a positive accounting effect of
approximately NOK 10 million after tax. The transaction and carve out of the
Cretaceous formation as a separate production license are subject to approval by
Norwegian authorities.
Contact:
Kjetil Bakken, VP Strategy & 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
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other applicable laws; and
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originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1539843]
Unternehmensinformation / Kurzprofil:
Datum: 22.08.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 57630
Anzahl Zeichen: 1727
contact information:
Town:
Stavanger
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Noreco sells Flyndre discovery"
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NORECO (Nachricht senden)
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