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Noreco awarded six licences in UK

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Stavanger, 26 October 2012: Norwegian Energy Company ASA (Noreco) has been offered six licences including four operatorships in the 27th Seaward Licensing Round in United Kingdom. The majority of the new licences are located close to existing Noreco acreage, further strengthening the company’s position in the North Sea.

Noreco was offered four licences in the Central North Sea, including acreage around the Huntington field, and two licences in the Northern North Sea. There are no drilling commitments on the licences, which have been offered to Noreco´s UK subsidiary, Norwegian Energy Company (UK) Limited. The licenses are as follows:

  • Block 22/9b (split), located close to the Huntington field.
  • Witch Ground Graben Blocks 14/11, 14/12 and 14/16, operated by Noreco, expanding the company’s acreage position next to its existing licences P1650 and P1768.
  • Blocks 21/8c, 21/9b (split), 21/10c, 21/14a and 21/15b, operated by Noreco, located west of the Huntington field.
  • Magnus Basin Blocks 210/7, 210/12 and 210/13, operated by Noreco.
  • Blocks 220/21 and 220/22, operated by Noreco, located along the border to Norway next to licence PL639.
  • South Viking Graben Block 16/18b (split), extending existing acreage position in licence P1776.

The offered licenses are shown on the attached map.

Contacts:
Einar Gjelsvik, CEO ( 47 992 83 856)
Kjetil Bakken, VP Investor Relations ( 47 91 889 889) 

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

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 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

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

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