Noreco Announces an Update Regarding the Huntington License
Monday 19 December 2016
Norwegian Energy Company ASA ('Noreco') announces that its fully owned subsidiary Noreco Oil UK Limited has entered into an agreement to transfer its 20% participating interest in the Huntington license with all rights and obligations to Premier Oil E&P UK Limited.
The transaction will have an accounting effect of a net gain of NOK 225 million to be reflected in the full year accounts.