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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.

Stavanger, January 4th, 2008: 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. Oil/condensate and associated gas was proven, and the well was tested with a flowing rate of 4,920 barrels of oil equivalents per day. The results confirm reservoir thickness and good reservoir characteristics. Noreco owns 15% of the license.