Drilling on Verdande has started

Stavanger 8 April 2014: Norwegian Energy Company ASA (Noreco) is pleased to announce that the drilling of exploration well 6608/10-16 on the Verdande prospect in license PL484 in the Norwegian Sea has started. The main objective is to find hydrocarbons in sandstones of Jurassic age.

The well is being drilled with the drilling rig Bredford Dolphin and is likely to take 68 - 81 days.

Noreco Norway AS has a 30 percent interest in license PL484, and is the operator. Partners are Explora Petroleum AS (30 %), Dana Petroleum Norway AS (30 %) and E.ON E&P Norge AS (10 %).

Contact:
Ørjan Gjerde, CFO (0047 900 35 738)

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act
 

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company’s focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 55 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com