Stavanger, 21 February 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) is pleased to announce that drilling of exploration well 6507/8-8 has started. Target for the well is the Ronaldo prospect.
Ronaldo is located in production license PL434 in the Norwegian Sea, north east of the Heidrun field. The main target in the Ronaldo prospect is Middle Jurassic reservoir rocks. The well is drilled with the semi-submersible drilling rig Songa Delta.
The partners in license PL434 are Nexen Exploration (operator, 49 per cent), Concedo (21 per cent), Noreco (20 per cent) and E.ON Ruhrgas (10 per cent).
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)