Appointment of Managing Director

Petrolia NOCO is pleased to announce the appointment of Linn Katrine Høie as Managing Director with effect from 5th August 2019. The Board of Directors of Petrolia NOCO AS, today announces the appointment of Linn Katrine Høie as the Managing Director of Petrolia NOCO AS. Linn Katrine will be responsible for taking the Company forward in the next stage of its growth.

Linn Katrine (42) comes to Petrolia NOCO with broad experience from the energy sector, most recently working with digitalisation of field development in Aker BP. She has held various management positions during her career and has a very broad technical and cross discipline understanding of the industry. Her previous experience in building up management systems, process improvements, license management and project management are an ideal background for Petrolia NOCO as the company builds its portfolio, which includes two operated licences.

Robert Arnott, Executive Chairman of the Board said:

“We are very fortunate to have appointed someone of Linn Katrine Høie’s calibre and experience to lead our team of young and dynamic professionals in order to deliver value to its shareholders”.

Linn Katrine Høie, new Managing Director commented:

“I am looking forward to leading Petrolia NOCO as we continue to seek to create and deliver material value for shareholders. The company’s key strength of entrepreneurial exploration remains the focus of the Company offering investors significant growth potential”.

About Petrolia NOCO AS

Petrolia NOCO AS is a privately owned independent oil company qualified as an operator on the Norwegian Continental Shelf.

Its shares are registered in the Norwegian Central Securities Depository (“Verdipapirsentralen”, VPS) with ISIN: NO0010844301. The shares are registered with ticker “PNO” on the NOTC (www.notc.no), a market place for unlisted shares.

Petrolia NOCO AS has been involved in exploration in Norway since 2012 and has 12 licences including two operatorships, one in the northern North Sea (PL 933) and one in the Norwegian Sea (PL 1013).

Petrolia NOCO AS is highly geared to creating significant value for stakeholders through its strategy of focusing on material exploration success. By applying smart and cost effective technology with Norwegian Continental Shelf competence, the company is challenging consensus to open new exploration plays.

Aug 8, 2019


Petrolia NOCO AS listed on NOTC with ticker “PNO”

The Petrolia NOCO AS shares are now registered with ticker “PNO” on the NOTC (www.notc.no), a market place for unlisted shares. In case you are unable to register orders in the web service of your bank, we understand that orders can be made by phone to your bank.

July 26, 2019

Petrolia NOCO AS now has 700 shareholders and the shares are freely tradable

The Petrolia NOCO AS shares have now been registered at the Norwegian Central Securities Depository, “VPS” with ISIN: NO 0010844301 and the Articles of Association have been updated to make the shares freely tradable without neither pre-emption rights to existing shareholders nor need of board approval.

In the EGM 22 March 2019, Independent Oil & Resources PLC resolved to dividend all their shares in Petrolia NOCO AS to their shareholders. This transaction is expected to be completed in the first week of April. The number of shareholders is then expected to approach 700 (minimum number of shareholders to qualify for listing at Oslo Stock Exchange is 500).

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March 28, 2019

Success in APA 2018

Petrolia was offered five licenses in the APA 2018 by the Norwegian Ministry of Petroleum and Energy. Two of the licenses (PL 992 and PL 994) are located in the northern North Sea and three in the Norwegian Sea (PL 937 B, PL 998 and PL 1013), where Petrolia also obtained one operatorship (PL 1013). Petrolia delivers on the strategy of niche exploration with additional focus on near field acreage, which is reflected in the awarded licenses. Petrolia keeps growing and is continuing to chase the great potential on the NCS and building a strong, diverse portfolio.

Fantastic effort by the team, resulting in positive results on all our applications in APA 2018.  With the newly awarded licenses Petrolia will continue to grow as a company and work together with partners to create value on the NCS.

Anette Broch Mathisen Tvedt

Exploration Manager

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January 18, 2019


Petrolia has Appointed a new Exploration Manager and A new Business DevElopment Manager

Petrolia is happy to announce Anette Broch Mathisen Tvedt as our new Exploration Manager and Joanna Ponicka as our new Business Development Manager.

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Joanna Ponicka  

Business Development Manager  

MSc in Petroleum Geoscience, University of Aberdeen  

Joanna joined Petrolia in 2015 as an Explorationist and played an active role in growing the company portfolio, with strong focus on building new partner network.

She has a variety of experience covering farm-ins, acreage applications and leading the APA round, and has been part of Petrolia's Exploration Committee that guides the company strategy since 2018. 

January 11, 2019

Anette Broch Mathisen Tvedt  

Exploration Manager  

PhD in Geoscience, University of Bergen 

Anette has worked for Petrolia for almost six years and have experience working with all aspects of exploration, both through license work and licensing rounds.  She has had leading roles in several projects, including Petrolia’s basement projects.  

Anette has broad experience from both the Norwegian Continental Shelf and offshore Brazil. As geoscientist, Anette has experience working with everything from prospects related to the softest of rocks (salt) to the hard rock fractured basement reservoirs.  


Petrolia noco acquires Petoro as wi in pl 018 c

On 30th of November 2018 Petrolia NOCO AS completed the acquisition of a 5% WI in PL 018 C from Petoro AS. Whilst the transfer relates to Norwegian license interests, license PL 018 C forms part of a cross-border unitised interest known as the “Flyndre Field”. After this transaction Petrolia NOCO AS holds 11.5% WI in the license. 

The Flyndre Field is an oil- and gas producing field on the border between the Norwegian and UK sectors in the North Sea, 35 km northwest of the Ekofisk Field. The field is operated by Total Oil UK Limited. 

The effective date for the transaction is 1st January 2018. 

November 30, 2018


Petrolia noco acquires Equinor asa wi in pl 018 c

On 31st of October 2018 Petrolia NOCO AS completed the acquisition of a 6.541% WI in PL 018 C from Equinor ASA. Whilst the transfer relates to Norwegian license interests, license PL 018 C forms part of a cross-border unitised interest known as the “Flyndre Field”.

The Flyndre Field is an oil- and gas producing field on the border between the Norwegian and UK sectors in the North Sea, 35 km northwest of the Ekofisk Field. The field is operated by Total Oil UK Limited.

The effective date for the transaction is 1st of January 2018.

October 31, 2018


Share issue - NOK 35 million raised

Petrolia NOCO AS has completed a share rights issue where 315 627 shares will be issued, raising NOK 35 million in new equity. The new share capital of NOK 121 million is expected to be recorded at Brønnøysundregistrene in June. Following this share issue, the existing shareholders have paid in NOK 296 million. In addition to existing shareholders, several employees also subscribed.

May 15, 2018


 
 

Petrolia noco success in APA 2017

Petrolia NOCO AS was awarded four licenses in the APA 2017 round, moving forward with PN's innovative exploration strategy. Petrolia is operator on one of the newly received awards in the southernmost Norwegian Sea. Two of the awards are located on the Frøya High and one on the Nordland Ridge, which both are competitive areas.

January, 2018


Petrolia NOCO announces the appointment of Dr Robert Arnott as Executive Chairman.

Dr Arnott has over 35 years’ experience in the oil and gas industry and has previously held board positions at several E&P companies, most recently as Chairman of Hurricane Energy, the UK North Sea basement specialist.

He also has extensive experience in the Norwegian sector having served on the boards of Rocksource ASA, Core Energy AS and Spring Energy AS. In addition, he has been a member of the Advisory Board of DNO ASA.

After working as a geologist and economist with Royal Dutch Shell, he became an oil and gas equity analyst in 1991, holding senior positions at Goldman Sachs and Morgan Stanley for 10 years. He is also a senior fellow at the Oxford Institute for Energy Studies and is recognised for his research into the oil and gas industry.

Petrolia has been involved in exploration in Norway since 2012 and has 6 licences including one operatorship recently awarded in the 2017 APA round.

January 22, 2018


APA 2016 Awards

Petrolia NOCO AS has been awarded 2 new licenses in the 2016 APA (Awards in Predefined Areas). Petrolia NOCO is pleased to have been awarded 30 per cent of license 882 and 20 per cent of license 887.

Following the APA 2016 Petrolia NOCO is a partner in 8 licenses on the Norwegian Continental Shelf.

January 17, 2017