norse energy corp asa (NEC) Snapshot

Norse Energy Corp. ASA (OB:NEC) is planning to sell some of its oil and gas assets. Norse has appointed The Oil & Gas Asset Clearinghouse L.L.C. to advice the sale of some of Norse oil and gas assets. The anticipated asset sales are part of Norse ongoing plan of restructuring. "The appointment of OGC with their extensive oil and gas industry contacts and asset sales experience is expected to significantly enhance Norse's restructuring efforts", commented Norse, Chief Executive Officer, Mark Dice.

Norse Energy Corp. ASA filed its Annual on Jun 01, 2013 for the period ending Dec 31, 2012. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Norse Energy Corp. ASA reported consolidated earnings results for the year ended December 31, 2012. For the year, the company reported total revenues of $0.351 million, operating loss of $14.025 million, loss before taxes of $13.826 million, net loss from continuing operations of $13.826 million or $0.13 per basic and diluted share, net loss attributable to shareholders of the parent company of $11.905 million compared to the total revenues of $9.636 million, operating loss of $18.655 million, loss before taxes of $25.725 million, net loss from continuing operations of $30.698 million or $0.45 per basic and diluted share, net loss attributable to shareholders of the parent company of $80.204 million for the previous year. Net cash out flows from operating activities was $14.458 million compared to the $34.494 million for the previous year. Payments for property, plant and equipment was $0.391 million compared to the $1.800 million for the previous year.