Brief: North Energy acquires Explora Petroleum for $2.5 mln

North Energy ASA

21/12/2015 07:45

Dec 21 (Reuters) - North Energy ASA  NORTH.OL  says: 
    * North Energy acquires Explora Petroleum for $2.5 mln in 
cash 
    * Through the acquisition of Explora, North Energy is taking 
over the company's net cash position, exploration tax refund, 
uncovered tax-related loss and future commitments related to 
organisation and the licence portfolio. 
    * Explora had 18 employees and 16 licences on the Norwegian 
continental shelf (NCS) at the date of transaction, including 
small interests in the Skarfjell and Grosbeak discoveries, both 
in PL 378 in the north-eastern North Sea, located about 20 
kilometres south-west of the Gjøa field. 
    * Skarfjell is currently estimated to contain 139 million 
barrels of recoverable oil equivalents (NPD, RNB 2015) while 
Grosbeak is currently estimated to contain 35 million barrels of 
recoverable oil equivalents (NPD, RNB 2015). 
 
Source text for Eikon:  ID:nHUGbKl6j1  
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 (Reporting By Ole Petter Skonnord) 
 ((olepetter.skonnord@thomsonreuters.com;))