Norse Energy Corp. ASA (OSL:NEC) will release the third quarter earnings for 2009 on Tuesday, November 10. The financial results will be posted on the company’s website, www.norseenergy.com. The company will conduct a conference call at 8:30 am to discuss the financial results. The conference call will be accessible via webcast at www.norseenergy.com.
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For more information, contact Jonas Gamre, Investor Relations, at 47.23.01.10.02, 47.97.11.82.92 (cell), or jgamre@norseenergy.com.
Norse Energy reported a group net production of 4,163 BOE per day, on the second quarter earnings, showing an increase of 13% from the first quarter earnings for 2009. EBITDA was up during the second quarter at USD 4.0 million. The first quarter only had USD 0.25 million. The net foreign exchange gained USD 29 million. Net profit went up to USD 9.2 million from USD 2.2 million. The book equity also increased from USD 66 million to USD 119 million.
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Norse Energy Corp ASA (Norse Energy), formerly Northern Oil ASA, is a Norway-based company active within the oil and gas industry. The Company is engaged in the onshore and offshore exploration and production of oil and gas in the United States and Brazil through Norse Energy Corp. USA and Norse Energy do Brasil Ltda respectively. Additionally, Norse Energy owns and operates pipeline systems in the Northern Appalachian Basin of the United States for gathering and transmission of natural gas, and provides energy marketing services to Appalachian end users and producers. It was established after the merger of NaturGass (USA) ASA, a Norwegian private company, and Northern Oil ASA, a Norwegian publicly traded entity.
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