Noreco reports fourth quarter 2013 results
Stavanger, 20 February 2014: Norwegian Energy Company ASA (Noreco) today presents its fourth quarter 2013 report, with a positive EBITDA of NOK 56 million and a positive net result of NOK 339 million.The positive operating result is among other things due to low exploration costs in the fourth quarter 2013. A non-recurring item of NOK 523 million related to the restructuring of the company’s bond debt is a significant contributor to the positive net result for the quarter.“New equity and restructuring of all debt has given the company a significantly improved financial foundation for