North Energy AS reported unaudited consolidated earnings results for the fourth quarter and full year of fiscal 2011. The company reported operating loss of NOK 227.4 million, loss before tax of NOK 231.7 million, net loss of NOK 49.3 million or NOK 1.96 per basic and diluted share against operating loss of NOK 146.6 million, loss before tax of NOK 143.8 million, net loss of NOK 45.8 million or NOK 1.82 per basic and diluted share a year ago. The change in net loss be attributed to the company's generally higher level of activity in 2011. Net cash flow from operating activities was NOK 201,846,000 against NOK 115,135,000 a year ago. Purchase of property, plant and equipment was NOK 6,691,000 against NOK 2,098,000 a year ago. For the year, the company reported operating loss of NOK 458.3 million, loss before tax of NOK 471.8 million, net loss of NOK 110.6 million or NOK 4.39 per basic and diluted share against operating loss of NOK 289.2 million, loss before tax of NOK 284.5 million, net loss of NOK 62.9 million or NOK 2.67 per basic and diluted share a year ago. Net cash flow from operating activities was NOK 30,837,000 against NOK 30,748,000 a year ago. Purchase of property, plant and equipment was NOK 13,212,000 against NOK 7,076,000 a year ago. North Energy has commenced an exciting drilling campaign this year and is continuously working on expanding the drilling programme for 2013.