Noreco Posts 9,700 boe/d for January 2008

Norwegian Energy Company ASA, Noreco's oil, gas and NGL production for January 2008 was 9,700 barrels of oil equivalents per day. The average price achieved for the month was $83 per barrel.

Production in the month was influenced by a shut down of production on the Siri field. The production volumes are preliminary and are subject to adjustments, including final allocations between fields, quality adjustments and prices. The stated price per barrel is after cost of put options.

Noreco will present its plans for 2008, including production guidance, in conjunction with the presentation of the Q4 2007 results on 14 February.