Brief: North Energy Q3 net loss widens

North Energy ASA

12/11/2015 06:11

Nov 12 (Reuters) - North Energy  NORT.OL  says: 
    * Q3 net loss NOK 32.9 million versus loss NOK 31.8 million 
in the year-ago period 
    * North energy had net cash position of NOK 219 million at 
end Q3 versus NOK 261 million at end Q2 
    * North energy asa says north energy's level of costs will 
be low in 2016 and beyond 
    * Says the threshold for investment commitments will be 
high, and our future exploration wells must satisfy stringent 
requirements for swift commercialization 
    * "The restructuring plan is on schedule," says Knut Sæberg, 
acting CEO  
    * "Our cost base has been cut dramatically, and we will have 
very low operating expenses in the time to come. We're 
continuing our efforts to adapt to the demanding market 
conditions," Sæberg says 
 
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 (Reporting By Stine Jacobsen) 
 ((stine.jacobsen@thomsonreuters.com;))