HitecVision - proposal to pay extraordinary dividend

1. 19.12.2008

   Noble Denton strengthens its position in Norway

   Noble Denton today announces the acquisition of Standard Engineering and Brevik Engineering from Oslo-based Strata Marine & Offshore for MNOK 273 (£25.9m).

2. 19.12.2008

   Spring Energy awarded 4 licenses in APA 2008

   As announced by the Norwegian Ministry of Petroleum and Energy on 18 December 2008, Spring Energy has been awarded 4 licenses in the APA 2008.

3. 08.12.2008

   Noreco: strong production in November and successful testing of Brage well

   Noreco achieved an average daily oil, gas and LNG production of 15,200 barrels in Novemer. The Brage well has been tested at stable oil rates of more than 15 000 barrels per day gross, which represents more than 1 800 barrels per day net to Noreco

4. 28.11.2008

   HitecVision exits Haaland

   HitecVision Private Equity IV LP has divested its 40% shareholding in Haaland Group AS. Hatteland Gruppen, through Jakob Hatteland Logistics AS (JHL), has acquired the Fund's shares.

5. 24.11.2008

   Vector signs framework agreement with StatoilHydro

   Vector International AS has signed a framework agreement with StatoilHydro regarding supply of pipes and flanges. The agreement primarily conserns deliveries to fields and projects on the Norwegian Continental Shelf, but may also be used in StatoilHydro's international projects. The agreement is valid for 2 years from 1st January 2009, with an option to prolong the agreement by 2 plus 2 years.

6. 18.11.2008

   Noreco: share capital increase (read more)

   The share capital increase in Norwegian Energy Company ASA (Noreco, OSE: NOR) announced on 4th November 2008 was yesterday registered with the Norwegian Registry of Business Enterprises. Following the registration, Noreco`s share capital is NOK 444,428,018.70.

7. 17.11.2008

   Noreco awarded 6 licenses in the UK (read more)

   Norwegian Energy Company ASa (Noreco, OSE: NOR)has been offered six licenses in the UK 25th offshore round.

8. 07.11.2008

   Thorleif Enger new Chairman of Spring Energy

   7. November 2008.
   The Board of Spring Energy is pleased to announce the nomination of Mr. Thorleif Enger as new Chairman of the Board of Spring Energy Norway AS.

9. 06.11.2008

   Spring Energy acquires a 30 % working interest in PL411

   The Oslo-based oil company Spring Energy has reached agreement with Norwegian Energy Company ASA ("Noreco") to acquire a 30 % working interest in production license PL 411 located in the North Sea.

10. 04.11.2008

    HitecVision - proposal to pay extraordinary dividend

    In the meeting of the board of directors of HitecVision Private Equity AS held on 31st October it was resolved to call an extraordinary general meeting to propose payment of an extraordinary dividend of NOK 40 million and to change the company name to HitecVision AS.

11. 03.11.2008

    Noreco: NOK 560 million early redemption of bonds and deletion of bond covenant approved

    Norwegian Energy Company ASA (Noreco - OSE:NOR), Noreco has received approval from the NOK 2,800 million bondholders to redeem NOK 560 million of bonds at par value and remove the covenant related to the market adjusted equity ratio in the loan agreement.

12. 29.10.2008

    Sorco awarded NOK 300 million contract by Talisman

    Sørco AS announced today that it has entered into an agreement with Talisman Energy Norge AS to provide maintenance, modifications and operations support to the Gyda and Yme fields. The contract is valued at NOK 300 million and is in force until 2012.

13. 23.10.2008

    Noreco: new oil discovery

    Norwegian Energy Company ASA (Noreco, OSE:NOR) has discovered oil in the Knockandoo-Talisker exploration well near the producing Brage field in Norway, where it owns a 13% share. The well is now being completed and is expected to start production within 3-4 weeks.

14. 22.10.2008

    Noreco: Proposed NOK 560 early redemption of bonds and deletion of bond covenant

    Noreco has received pre-acceptances from the majority of the NOK 2,800 million bondholders to redeem NOK 560 million of bonds at par value and remove the covenant related to the market adjusted equity ratio in the loan agreement.

15. 14.10.2008

    Spring Energy acquires a 30% working interest in PL344

    The Oslo-based oil company Spring Energy has reached agreement with Revus Energy ASA ("Revus") to acquire a 30 % working interest in production license PL 344 located in the Northern North Sea.

16. 01.10.2008

    Noble Denton appoints Group Manager Director Designate

    The Board of Noble Denton today announces the appointment of John Wishart as Group Managing Director Designate, Noble Denton.

17. 01.10.2008

    Noreco: strong production and strong cash position (read more)

    Noreco's average daily production in the third quarter of 2008 was 15 400 boe per day. Sale of oil in September was done at an average oil price of 98 US$ per barrel (116 US$ for Q3). The strong production has further improved the cash position for the company, and parts of the cash has been used to repay debt.

18. 05.09.2008

    Noble Denton wins biggest ever contract (read more)

    Noble Denton has secured its largest contract to date, worth approximately GBP 15million. The contract is from Thanet Offshore Wind Limited (TOW) to carry out project management services and foundation installation management on the Thanet Offshore Wind Farm Project.

19. 12.08.2008

    Spring Energy signs loan facility to finance exploration and production activities

    Spring Energy has signed a NOK 400 million loan facility agreement with SEB. The loan facility will assist Spring Energy in financing the company's 2008 - 2010 exploration and appraisal activities on the Norwegian Continental Shelf.

20. 08.08.2008

    Noreco makes oil discovery in Denmark

    Noreco announced today that oil has been discovered in the South Tor Pod exploration well in Denmark, where Noreco owns a 6.56% share.

21. 14.07.2008

    Spring Energy prequalifies as a licencee

    The Ministry of Petroleum and Energy (MPE) has prequalified Spring Energy as a licensee on the Norwegian Continental Shelf (NCS).

22. 30.06.2008

    Spring Energy buys into three Norwegian North Sea oil discoveries

    Oslo, 30th June 2008: Spring Energy has reached agreement with Serica Energy to acquire their Norwegian portfolio consisting of a 20 % working interest in two production licenses, PL406 and PL407.

23. 30.06.2008

    Noreco: Tender offer

    Stavanger, 30th June 2008: Noreco offers all holders of 6% Noreco convertible bonds to convert their bonds to shares whereby accepting bondholders will receive a fixed premium of 7.0% to par value plus accrued interest in cash.

24. 14.05.2008

    Reorganisation of HitecVision Private Equity III

    The investors of Fund III have approved a demerger of the Fund into two separate entities. The original fund entity will retain the investments in RigNet, SPT Group and Norse Cutting & Abandonment, while the Fund's other investments will be demerged into a new entity. Each of the Fund's investors have signed an agreement to sell its investment in the original fund entity to a new holding company established by secondaries specialist Cubera Private Equity.

25. 13.05.2008

    MTEM exit wins two awards

    The sale of MTEM Ltd., a former portfolio company of HitecVision Private Equity III AS, has recently been voted "Venture Capital Deal of the Year" in the prestigious UK Private Equity Awards 2008 and was awarded "Technology Venture Exit of the Year" in the UK Technology Innovation and Growth Awards.

26. 06.05.2008

    Halliburton acquires HitecVision's investment in Knowledge Systems

    HitecVision announced today an agreement to sell its investment in Knowledge Systems, the world’s leading provider of geopressure and geomechanical solutions, to Halliburton.

27. 28.04.2008

    Noreco: Completed private placement, subsequent offering planned

    Stavanger, 28th April 2008: Norwegian Energy Company ASA (Noreco, OSE:NOR), Noreco has completed a private placement for 19,149 million new shares. The private placement was substantially over-subscribed. The subscription price was set to NOK 23.50 per share, giving gross proceeds of approximately NOK 450 million.

28. 25.04.2008

    Noreco acquires Talisman Oil Denmark

    Stavanger, 25th April: Norwegian Energy Company ASA (OSE:NOR), Noreco has entered into a Share Sale Agreement with Paladin Resources Limited (whose ultimate parent company is Talisman Energy Inc) to acquire all the shares in Talisman Oil Denmark Limited for a consideration of USD 83 million.

29. 23.04.2008

    HitecVision V invests in Spring Energy Norway AS

    Stavanger, 24th April 2008: HitecVision announced today an agreement to provide USD 120 million in equity financing to the oil and gas company Spring Energy Norway.

30. 03.04.2008

    NCA acquires LIS Energy Services LLC

    Norse Cutting & Abandonment AS (NCA) acquires 100% of the assets of plugging and abandonment (P&A) specialist LIS Energy Services LLC in Louisiana, USA. The acquisition strengthens NCA’s service range significantly within the P&A and decommissioning industry and provides a vital next step in becoming the world leading decommissioning specialist.

31. 28.03.2008

    HitecVision V invests in Hitec Products Drilling AS

    Stavanger, 28th March 2008: HitecVision acquires 60% of independent drilling and well solutions provider Hitec Products Drilling, providing capital for continued expansion.

32. 25.02.2008

    Noreco: Brage well tested more than 17,000 barrels per day

    Norwegian Energy Company ASA (Noreco) announced today the successful completion of a well on the North flank of the Brage field in Norway, which adds significant production and reserves to the field.

33. 18.02.2008

    Maritime Systems and Teknisk Bureau join the new technology group APPLY

    Stavanger, 18th February 2008: Maritime Systems and Teknisk Bureau join forces with Asator and North Sea Innovation, forming the technology group APPLY. APPLY will be a substantial player in the offshore and construction markets with nearly 1000 employees and expected revenues over NOK 1 billion.

34. 17.02.2008

    Noble Denton ranked number 59 on Deloitte's Buyout Track 100

    Fast growing profits earned Noble Denton a ranking as number 59 of mid market private equity-backed companies in Britain.

35. 12.02.2008

    Noreco: Largest North Sea Discovery in six years

    Noreco announced today the completion of the first phase of the appraisal of the Huntingon discovery, of which the company owns 20%.

36. 08.02.2008

    Noreco awarded nine new licenses in the 2007 APA round

    Stavanger, February 8th 2008: Norwegian Energy Company ASA (Noreco) has been awarded 9 new licenses including 3 operatorships in the 2007 Awards in Predefined Areas (APA) in Norway.

37. 05.02.2008

    Noreco signed NOK 800 million loan facility

    Noreco today signed a NOK 800 million loan facility agreement with Sparebank1 SR-Bank and DnB NOR. The facility will enable Noreco to finance up to 70% of its exploration and appraisal activities on the Norwegian Continental Shelf over the next two years.

38. 16.01.2008

    Share issue in Noreco

    The Board has resolved to utilise its authorisation to issue new shares. 94,338 new shares were resolved issued pursuant to the Company's established bonus program for certain employees. The subscription price for each share is NOK 30.

39. 04.01.2008

    Noreco's Oselvar well confirms good reservoir characteristics

    Norwegian Energy Company ASA (Noreco) today announced the results of an appraisal well on the Oselvar discovery in license PL274 on the Norwegian continental shelf.

40. 02.01.2008

    Carl Liehung appointed new CEO of NCA

    Liehung comes from a position as Senior Vice President for Business Development Oil, Gas and Marine Solutions Division in Siemens AG.