Oil price hedging 2011-2014

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Noreco uses put options to protect cash flow against downside risk in oil price

Period

65 $/bbl 70 $/bbl

75 $/bbl

Q1 2011

   

0.30 mill bbl

Q2 2011

    0.15 mill bbl

Q3 2011

    0.15 mill bbl

Q4 2011

    0.18 mill bbl

Q1 2012

    0.23 mill bbl

Q2 2012

    0.23 mill bbl

Q3 2012

    0.10 mill bbl

Q4 2012

    0.10 mill bbl
Q1 2013     0.15 mill bbl
Q2 2013     0.12 mill bbl
Q3 2013   0.17 mill bbl  
Q4 2013   0.17 mill bbl  
Q1 2014    0.12 mill bbl  

Last updated 9 February 2012

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