Noreco sells exploration license PL411 interest

Noreco has signed an agreement with Spring Energy to farm-out of exploration license PL411 in the Stord basin in Norway.

Offshore staff

STAVANGER, Norway -- Noreco has signed an agreement with Spring Energy to farm-out of exploration license PL411 in the Stord basin in Norway.

The license was awarded in the APA2006 round. Noreco is the operator of the license, and will have a 70% interest after the transaction.

11/06/2008

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