Det Norske losses spiral
Det Norske has reported an increase in net loss to Nkr44.8 million ($8.8
million) for the first quarter of 2008 compared to Nkr10.2 million in 2007
despite a 170% increase in revenue which came in at $79.5 million.
The company attributed the losses to increased exploration costs of Nkr56.9
million compared to Nkr24.6 million in 2007.
Production during the quarter was boosted to 156,886 barrels of oil compared
with 74,576 in the first quarter of 2007.
08 May 2008 07:46 GMT
| last updated:
08 May 2008 07:56 GMT
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