Noreco announces gas discovery at Gita in Denmark

CEO Scott Kerr. Photo: Noreco.

CEO Scott Kerr. Photo: Noreco.

Stavanger, 15 April, 2009: Norwegian Energy Company ASA (Noreco, OSE:NOR), Hydrocarbons has been discovered in the Gita exploration well in Denmark, where Noreco holds a 12% share.

“The drilling results from the Gita well are very promising and of great importance to Noreco. We have a discovery in Noreco’s main target for the well, and the results confirms our view that this can be a major gas discovery with a potential to signifcantly increase Noreco’s reserves and contingent resources,” says CEO Scott Kerr.

“We will now analyze the results to estimate the size of the discovery and the full potential of the Gita, Maja and Amalie resource base, and plan the forward appraisal program,” continues Kerr.

Facts about Gita-1X well

The Gita prospect straddles the licenses 9/95 Maja and 9/06 Gita in which Noreco holds 12% each. Maersk Oil & Gas AS, as the operator, is currently undertaking P&A of Gita-1X. The purpose of the well was to prove hydrocarbons in the Upper to Middle Jurassic reservoir rocks. The well was drilled as a vertical well to a total depth of 5162 meters below sea level with the jackup rig Ensco 101. The well encountered Middle Jurassic sandstone layers containing hydrocarbons. A number of measurements were carried out for further evaluation of the result of the well.



Norwegian American Logo

The Norwegian American

The Norwegian American is North America's oldest and only Norwegian newspaper, published since May 17, 1889.