Financial report for the 4th quarter 2020
· Successful restructuring of the Company was approved by an extraordinary general meeting on 20 October 2020 · This report is reflecting the changes to the Company following the closing of the restructuring. · Equity strengthen with MNOK 12,212 compared to previous quarter and booked equity end of year of MNOK 4,200 · Liquidity strengthen with MNOK 1,358 compared to previous quarter and year end cash position of MNOK 2,412 · The effects of a lower oil price are that E&P companies are re- scrutinizing their spending plans and postponing or canceling projects resulting in