Stavanger, 5 June 2012: Norwegian Energy Company (Noreco) in May 2012 produced 4,046 barrels of oil equivalents (boe) per day. Net realized price in May was USD 87 per boe after adjustments for oil put options, inventory, NGL and gas prices.

Production per field, May 2012 (boe per day):
Nini East - 1,913
Oselvar - 1,425
Lulita - 281
Nini - 244
Cecilie - 183
Enoch - 0

At the Siri platform, a planned maintenance shutdown was performed in May, resulting in one week production shutdown from the fields Nini East, Nini and Cecilie. Production from Nini and Cecilie remained shut in for further 11 days due to a compressor problem. The fields are currently producing at normal levels.

Net realized price in May was USD 87 per boe. This includes a negative value adjustment to stocks due to reduced oil price over the period, which amounts to approximately USD 17 per boe. Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

Contact:
Kjetil Bakken, VP Investor Relations (+47 91 889 889)

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)