Noreco Spuds First Operated Well Off Norway

Exploration drilling on the Tasta prospect in Norway has commenced today. Noreco has a 40 percent ownership share and is the operator.

"This is our first well as operator in Norway, and marks an important milestone in our efforts to build a leading, independent oil and gas company in the North Sea region," said Scott Kerr, Noreco CEO.

The Tasta prospect is situated 15 km East of the Jotun field in the Norwegian part of the North Sea, in a very interesting license (PL 412) in a prolific hydrocarbon province with infrastructure in place. Noreco's resource estimate for Tasta is 34-91 million barrels hydrocarbons gross.

The well is being drilled by the West Alpha semisub. Results are expected in October.