Stavanger, 3 December 2008: Norwegian Energy Company ASA (Noreco - OSE:NOR), Noreco's oil, gas and NGL production in November 2008 was 15 200 barrels of oil equivalents per day.

- We continue to produce at a high level, and will shortly start production from the successful exploration well at the Brage field, says CEO Scott Kerr.

 

Sale of oil in November was done at oil prices of 58 US$ per barrel. Noreco has put options for 75 US$ per barrel, and the average net price per barrel oil equivalent achieved for the month will be adjusted for put options as well as adjustments for inventory and NGL and gas prices.

 

The production volumes are preliminary and are subject to adjustments, including final allocations between fields, quality adjustments and prices.

For further information, please contact:
Scott Kerr, CEO (+47 992 83 890)
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)