Norway-based oil company Det norske oljeselskap has posted what the company called its “best quarterly result ever” and says there’s a “considerable possibility of new discoveries” offshore Norway in 2009.

The company posted a 479-million-kroner ($78 million) net loss, or wider than a year ago by some 377 million kroner ($61.5 million). Revenues were down over 40 million kroner to 124 million kroner, just as exploration expenses were up 200 percent to 481 million kroner.

Det Norske boss Erik Haugane said he was pleased and focused instead on the 50 million barrels of oil equivalent in undeveloped reserves found offshore Norway by the drill bit this year.

“This will mean positive results for the company in the second half of the year,” Haugane said, adding, “We will soon start drilling of prospects in the areas by Jotun and Grevling, where expectations are high.”

He said concepts studies were under way for the Grevling discovery of between 40 MM boe and 130 MM boe.

Haugane also revealed the Fulla prospect showed between 60 MMboe and 105 MM boe of gas and light oil, with development their pending too.

The company is understood to be participating in between two and nine wells for the remainder of 2009, judging by statements made Monday.

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