Press releases

Bullet

The latest and historical news about Noreco

  • 2/3/2016

    Noreco announces that it has not achieved bondholder approval for the Djerv transaction

    Oslo, 3 February 2016: Reference is made to announcement made on 21 December 2015, whereby Noreco announced to have entered into an agreement on the sale of its Norwegian petroleum activities to Djerv Energi AS which is conditional upon approval from NOR06 bondholders and the subsequent summons to a Bondholder meeting in NOR06 announced on 20 January 2016. Today at 13 00 CET a bondholder meeting was held in NOR06, at Nordic Trustees offices in Oslo in which 80,14 % of NOR 06 bondholders...
  • 1/25/2016

    NOR: Mandatory notification of trade

  • 1/22/2016

    Strike price for options programme

    Oslo, 22 January 2016: Reference is made to the proposal from the nomination committee regarding the options programme. Further reference is made to the extraordinary general meeting ("EGM") of 21 January 2016, which resolved to approve the options programme and that the strike price for these options should be at least 40 NOK/share. The volume weighted average share price from the date of announcement up until the EGM was 42.61 NOK/share, the arithmetic average for the same period was 40.33...
  • 1/20/2016

    Summons to bondholder meeting NOR06

    Oslo, 20 January 2016: Reference is made to stock exchange announcement on 21 December 2015 on Noreco Norway entering into a Sale and Purchase Agreement ('SPA') with Djerv Energi AS ('Djerv') for the sale of its exploration licence interests, organisation and management systems. Noreco Norway has today summoned bondholders in NOR06 to a bondholders' meeting to be held on 3 February 2016 at 13:00 CET in order to approve the SPA and certain other matters. The summons letter has been made...
  • 1/20/2016

    Noreco announces receipt of updated tax ruling in Denmark

    Oslo, 20 January 2016: Norwegian Energy Company ASA (“Noreco”), announces having received an updated ruling from the Danish tax authorities. Reference is made to Noreco’s Q1 report, "Subsequent events", where Noreco reported that Danish authorities had formally challenged Noreco Oil Denmark A/S’s taxable income for 2011 related to the sale of the Syd Arne field. The worst case scenario would entail an additional payment of USD 10.5 million plus interest, but increasing corporate loss carry...
  • 1/11/2016

    Noreco announces exit of the Huntington license

    Oslo, 11 January 2016: Reference is made to announcement made on 2 November 2015, concerning a default by Noreco Oil UK in the Huntington license. Norwegian Energy Company ASA (Noreco) reports that its UK subsidiary, Noreco Oil UK, has now been served formal notice by the license partners, E.ON UK E&P Limited and Premier Oil Plc, that they will exercise their rights to acquire Noreco’s participating interest in the Huntington license for no consideration, in accordance with their rights under...
  • 1/11/2016

    Revised proposal from the nomination committee

    Oslo 11 January 2016: Reference is made to the announcement made 30 December 2015: Notice of extraordinary general meeting of Norwegian Energy Company ASA to be held on 21 January 2016 at 12:00 CET at the premises of Advokatfirmaet BA-HR DA, Tjuvholmen allé 16, Oslo. Please find attached revised proposal from the nomination committee together with a revised proposal for resolution. The documents are also available at www.noreco.com . Contact: Silje Augustson, Group CEO Tel.: +47 992 83 900 or...
  • 12/30/2015

    Notice of extraordinary general meeting 21 January 2016

  • 12/29/2015

    Noreco announces results of offer to buy back NOR10 bonds

  • 12/21/2015

    Noreco announces the sale of its Norwegian petroleum activities

    Oslo, 21 December 2015: Norwegian Energy Company ASA (‘Noreco’) announces that its fully owned subsidiary Noreco Norway AS (Noreco Norway) has entered into a Sale and Purchase Agreement (‘SPA’) with Djerv Energi AS (‘Djerv’) for the sale of its exploration licence interests, organisation and management systems. The owners of Djerv will be a US based investment fund (70%) and Noreco (30%). The owners of Djerv will subscribe on equal terms prorata in a primary offering, to ensure that the compa...
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