Det Norske Climbs on Oil Find at Sverdrup Extension: Oslo Mover
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Det Norske Oljeselskap ASA rose to a 4 1/2 month high in Oslo after an exploration well confirmed an oil column in an extension of the Johan Sverdrup discovery, which could be Norway’s biggest in almost 40 years.
The Trondheim, Norway-based company gained as much as 2.5 percent to 91.8 kroner a share, the highest intraday level since Oct. 19, and traded up 2.2 percent as of 12:30 p.m. local time. More than 273,000 shares have been traded so far today, equivalent to about 95 percent of the average daily volume during the last three months.