Noreco History Line

2008

In June Noreco completes repayment in full of its 130 million USD Geopard bonds.

In April Noreco aquires Talisman Oil Denmark. The aqiusition is completed in June, and takes effect from 1 January 2008.

In January, Noreco is awarded a total of 9 exploration licenses in the 2007 APA

2007

In October, Noreco completes 550 mill nok private placement, becomes listed on the Oslo Stock Exchange main list, announces acquisition of two Danish and one Norwegian exploration licenses as well as the divestment of Altinex Services and Altinex Reservoir Technology.

In September, Noreco announces participation in rig consortium on West Alpha.

In August, Noreco completes the acquisition of Altinex ASA, and Altinex ASA becomes a wholly owned subsidiary of Noreco.

In July, Noreco makes a mandatory offer for all shares in Altinex ASA.

In June, Noreco is awarded 2 additional licenses in the 2006 APA.

In January, Noreco is awarded a total of 7 exploration licenses in the 2006 APA.

2006

In December, Noreco prequalifies as an operator on the Norwegian Contintental Shelf.

In September, Noreco announces acquisition of 3 NCS production licenses from Talisman.

In August, Noreco announces acquisition of license and cooperation agreement with Lundin Petroleum.

In March, Noreco is awarded one production license in the 19th Licensing Round in Norway, and is announcing the acquisition of two exploration licenses from Dong Norge.

2005

In December, Noreco is prequalified as license holder on the NCS and is awarded 3 production licenses in the 2005 APA.

In October, Noreco received 550 mill nok in private equity financing from Lyse Energi, HitecVision, 3i and local investors.

In June, Noreco announces Scott Kerr is managing director of the company.

In January 2005, Noreco is founded by local industry leaders.

 

About Noreco

More than 50 licences in the North Sea and the Norwegian Sea

Employs more than 75 oil and gas professionals

Oil and gas production from 7 offshore fields

Average production rate of 15 400 boe per day (Q3 2008)

Public listing on Oslo Stock Exchange

Offices in Stavanger, Copenhagen and Oslo

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