No Hydrocarbons Encountered at Lupin Prospect

Norwegian Energy Company ASA (Noreco) has been adviced by its operating partner Statoil that drilling of the exploration well on the Lupin prospect in licence PL360 in the Norwegian part of the North Sea is about to be completed.

The well has not encountered hydrocarbons.

Further work in the licence will concentrate on prospectivity in Upper and Middle Jurassic, which has become more attractive following recent discoveries in the area.

Noreco has 15 percent interest in licence PL360, which is operated by Statoil.

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Press Release, April 22, 2013