Norwegian Energy Company, or Noreco, has posted its “strongest quarter ever” at 39 million kroner ($7.6 million), erasing the 16-million-kroner loss of a year ago and promising more production.

Operating revenues soared to 639 million kroner ($123.8 million) from zero a year ago after buying Talisman’s Danish production.

The quarter was also used to raise funds, and now third-quarter results are expected be “very strong”, with “the full impact of income from the acquisition”. Noreco is run by American Scott Kerr.

With seven of eight wells to date successful, an extensive work program planned for the rest of 2008 includes high impact exploration and construction.

Tags: Noreco