Change in functional currency to USD and Q4 2014 impairment
Following the acquisition of Marathon Oil Norge AS, Det norske oljeselskap ASA’s («DETNOR») functional currency is assessed to be U.S. Dollars (USD).The change in functional currency from Norwegian Kroner (NOK) will have effect from October 15, 2014, which was the closing date for the acquisition of Marathon Oil Norge AS. The upcoming Q4 2014 financials to be released on February 25, 2015 will thus be reported in USD. The balance sheet has been converted to USD at a rate of 6.6161 per October 15, 2014. As part of the purchase price allocation for the acquisition of Marathon Oil Norge AS,