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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

Stavanger, 8th December 2008: Norwegian Energy Company ASA (Noreco, OSE:NOR) 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.

- We are delighted with the excellent production results from the well, which will add significant production and reserves to the Brage field. We are looking forward to the forward drilling program on Brage, says CEO Scott Kerr in a comment.

www.noreco.com