Noreco Posts November Production Results

Noreco's oil, gas and NGL production in November 2008 was 15,200 barrels of oil equivalents per day.

"We continue to produce at a high level, and will shortly start production from the successful exploration well at the Brage field," said CEO Scott Kerr.

Sale of oil in November was done at oil prices of US $58 per barrel. Noreco has put options for US $75 per barrel, and the average net price per barrel oil equivalent achieved for the month will be adjusted for put options as well as adjustments for inventory and NGL and gas prices.

The production volumes are preliminary and are subject to adjustments, including final allocations between fields, quality adjustments and prices.