	norcen sees improvement in ings norcen energy resources ltd pct owned by hees international corp said ings and cash flow will improve in even if oil and gas prices remain at levels the improvement will result from production increases lower taxes and royalties reduced financing costs and from operating efficiencies and downsizing put into place during the company said in the annual report norcen previously reported ings excluding a mln dlr writeoff declined by pct to mln dlrs from mln dlrs in in norcen s cash flow fell pct to mln dlrs from mln dlrs in the prior year it said the sharp decline in oil prices during was the most significant factor for norcen s reduced performance while financial results are far from the previous year s record levels it is clear that norcen has withstood declining prices and remains financially and operationally strong norcen said it did not give a specific profit forecast the company said it is well positioned to capitalize on profitable opportunities in its core business areas and will continue to invest to increase revenue and asset values reuter 
