Noreco farms down NCS license

Norwegian Energy Company ASA (Noreco) has entered into an agreement to farm-down exploration licenses PL271 and PL302 in Norway.

Feb 27th, 2008

Offshore staff

STAVANGER -- Norwegian Energy Company ASA (Noreco) has entered into an agreement to farm-down exploration licenses PL271 and PL302 in Norway. Faroe Petroleum will earn a 15% share in the license by carrying Noreco's costs for drilling the Yoda well. Noreco's interest in the licenses after the transaction will be 15%.

02/27/2008

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