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"They are looking at their options, but we have not had specific discussions with them regarding whether they were looking at a sale of the company or specific assets," Noreco Chief Executive Scott Kerr told Reuters by telephone.
Oilexco has been looking for ways to pay for its exploration programmes in Britain's North Sea since October. A source close to the company told Reuters recently that a sale of the company is 'one of a number of options'..
Oilexco has a 40 percent stake in the Huntington field in Britain's central North Sea region, where Noreco owns 20 percent.
Kerr said the work with the Huntington licence is going ahead according to plan with a production start-up in 2010.
In October, Noreco said it would redeem part of its bonds and remove covenants that had concerned investors. It has also said it is marketing some of its discoveries.
Noreco has three different sets of assets for sale, but Kerr would not identify them.
"It has for a long time been part of our strategy to take some of our discoveries and monetize them," he said.
Kerr said Noreco might also consider buying assets, but declined to specifically comment on Oilexco's portfolio.
(Reporting by Richard Solem; Editing by Sharon Lindores Keywords: NORECO OILEXCO/ASSETS
(richard.solem@thomsonreuters.com; +47 22 93 69 77; rm://richard solem.reuters.com@reuters.no)
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