Noreco agrees to sale of offshore Norway interests

Offshore staff

OSLO, NorwayNorwegian Energy Co. (Noreco) has entered into a sale and purchase agreement (SPA) with Djerv Energi concerning its entire Norwegian exploration license interests, organization, and management systems.

Djerv will be owned by a US based investment fund (70%) and Noreco (30%).

Additionally, Noreco Norway has entered into an SPA to transfer its 4.36% interest in the Enoch license in the North Sea to CapeOmega.

Subject to approvals, all of Noreco Norway’s petroleum activities will cease.

12/21/2015

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