Noreco Exits Huntington license

Reference is made to announcement made on 2 November 2015, concerning a default by Noreco Oil UK in the Huntington license.

Norwegian Energy Company ASA (Noreco) reports that its UK subsidiary, Noreco Oil UK, has now been served formal notice by the license partners, E.ON UK E&P Limited and Premier Oil Plc, that they will exercise their rights to acquire Noreco’s participating interest in the Huntington license for no consideration, in accordance with their rights under the JOA.