Member Info for norb

Interoil is no benchmark. They report their prod figures alright, but other than that they are a disgrace to their PI`s.

Chinook testing is pending until Q1-2021 ?

Lexion, I have sold out of NORTH which has nothing to do with the position in TXP. I will consider a new position before dividends in 2021. But for the time being money is spent better elsewhere. Such as in TXP. I think.

No news about change in major holdings. Expected or not ?

I think NORTH would guarantee a much better price if or when a TO is on the table.

TXP is classified as a financial investment by NORTH . So its only fair fair to assume they will sell. Probably within the next 12 months. Or a lot sooner. I wouldnt be surprised at all if they have made a conditional agreement about sale of their position in TXP. The same applies to the other very few major holdings in TXp.

M2, no pressure on NORTH. They are an independent investment company listed at OSX. They can invest in any asset of interest.

Thank you for asking. We are NOT pleased. Especially since the sale of TXP was to pay dividens to the financial advisors/major shareholders. They deny that when asked, but its quite obvious.

Spud was August 13th ?

buysell, they have deep pockets. But they are only spending a fraction of the dividends they received from NORTH earlier this year (they received MGBP 0,7 each). So not really impressed with their buying, or the price they are offering.

He should stay away. Simple as that. Regardless of objective and agenda. IMO.

Very strange kind of corporate policies. Dont like it all if he is genuine.

Seems like a very good exit deal.

https://newsweb.oslobors.no/message/513157

Not sure what to read from this. SP is too low and we are ready to buy more at NOK 1,65 If somebody is ready to empty their holdings ? Also, no more news from NORTH the next couple of weeks.

These two gents as financial advisors, and chairman of BOD (Anders Onarheim) are now controlling 32% of NORTH.

North Energy ASA - Mandatory notifications of trade and disclosure of shareholding
1.9.2020 17:01:39 CEST | North Energy ASA | Major shareholding notifications

Rachid Bendriss, financial advisor to North Energy ASA and primary insider, has
purchased 408,497 shares at NOK 1.6848 per share via his fully owned company
Celisa Capital AS. The total number of shares beneficially owned by Bendriss
after the transaction is 9,067,797, which equals 7.62% ownership in North Energy
ASA.

Didrik Leikvang, financial advisor to North Energy ASA and primary insider, has
purchased 408,497 shares at NOK 1.6848 per share via his fully owned company
Isfjorden AS. The total number of shares beneficially owned by Leikvang after
the transaction is 6,930,300, which equals 5.82% ownership in North Energy ASA.

DISCLAIMER

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

worraps, yes like buying more..........

Results as expected. I did miss on equity (non-controlling interest which has been eliminated going forward). Still scratching my head about TXP and what to expect going forward.

About TXP

North Energy decided to realize some profit during the quarter by selling 5.7 million shares, resulting in cash inflow of NOK 26.1 million and a net profit of NOK 17.6 million. Through these transactions, North Energy has realized values in an amount equal to its total cash investment in Touchstone Exploration. As such, the remaining shares held represent only profit and the Company has an opportunistic approach in respect of maximizing the total value of its remaining shareholding.

Opportunistic approach.........whatever that means.

North Energy ASA ("North Energy" or "Company") records an income of NOK 52.0
million in the second quarter of 2020 compared to a loss of NOK 8.4 million in
the same quarter last year. The income this quarter is primarily due to a
significant increase in market value of the investment in Touchstone
Exploration. The Company's cash position as per end of second quarter is
reported NOK 136.5 million.

The Company's main industrial investment, Reach Subsea, reported an all-time
high result of NOK 27.8 million in the second quarter. High utilization and
successful project execution are the main drivers behind the improved
performance.

North Energy's total investment portfolio, measured at market value, is per end
of the second quarter NOK 143.0 million, up from NOK 115.8 million last quarter.
The portfolio consists of industrial holdings, listed financial investments and
other financial investments. The industrial holdings include the Company's
shares in Reach Subsea where North Energy is the major shareholder. The listed
financial investments consist of shares in Touchstone Exploration amongst
others.

The Board of Directors have revisited the Company's strategy, including an
updated dividend policy. For further details, see the second quarter financial
report for 2020, which is available on the Company's website, www.northenergy.no
[http://www.northenergy.no].