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Monday, 01 December, 2008, 23:50 GMT | more >>

Norse slides into the red



By Upstream staff 

Norse Energy posted a loss of $34.8 million for the third quarter as the outfit was hit by an impairment charge of $26.2 million on its Coral field and $5 million in Coral depreciation, the company said today.

The company’s proven and probable (2P) reserves stood at 48.1 million barrels of oil equivalent for the year ended 31 December, an increase of 8.3% compared to 2006 levels.


Tuesday, 26 February, 2008, 07:57 GMT  | last updated: Tuesday, 26 February, 2008, 08:24 GMT

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