25.03.2015 17:00:00 CET

North Energy - Board approves Annual Accounts for 2014

Alta, 25 March 2015

The Board of North Energy ASA (Ticker «NORTH») has today approved the annual accounts for 2014. The annual accounts, which is produced in accordance with IFRS, contains certain changes compared with the estimated annual result for 2014 published in the fourth quarter report released 12 February 2015. The changes pertains to the drilling operation in licence 510 which the company updated the market 20 February 2015.

Mill. Kroner Approved 12 Feb  2015
  Annual Account 2014 2014
Consolidated Results    
Exploration expenses (365,1) (332,1)
Annual result (124,5) (117,2)
     
Consolidated Balance    
Activated exploration expenses 11,5   44,6
Defered tax asset 131,7 106,0
Equity 440,1 447,4
Total balance  597,3 604,6

The annual report for 2014, with complete annual accounts, will be published through a stock exchange announcement and on the company website www.northenergy.no during April 2015.

Further information from:

Alexander Krogh, Finance Manager and Investor Relations
Mob: (+47) 416 48 650 | E-post: alexander.krogh@northenergy.no

This information is mandatory under Section 5-12 of the Securities Trading Act.