Wintershall Kicks Off Drilling Operations at Grosbeak Prospect

Noreco has confirmed that exploration drilling on the Grosbeak prospect in Norway has started.

Drilling of the exploration well Grosbeak in PL378, 25km North of the Troll field in the North Sea has started. The well is being drilled by the rig Songa Delta, and the well is being operated by Wintershall. Results are expected in July.

The Grosbeak prospect is situated in a very interesting license in a prolific hydrocarbon province with infrastructure in place, see attached map. Noreco's resource estimate for Grosbeak is 58-103 million barrels of oil equivalents gross. Noreco has a 20% working interest in the license.

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