The company’s loss before taxes amounted to NOK66.4 million for the second quarter of 2008, while the loss before taxes in the same quarter of 2007 was NOK86.8 million. Total exploration expenses in the second quarter of 2008 amounted to NOK102.6 million, compared to NOK102.4 million in the prior-year period.
The company’s second-quarter production was 144,101 barrels, up from 66,703 barrels in the same period 0f 2007. Oil has been sold at an average price of $118.30 per barrel.
