31 october 2018
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.
15 May 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.
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.
22 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.
17 JANUar 2017
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.