NOK 600 million unsecured bond issue completed

Reference is made to the announcement Monday 10th  January 2011 regarding a  contemplated offering of a NOK 400-600 million senior unsecured bond.

The Company is pleased to announce that the bond offering has been completed, with a placement of NOK 600 million. The issue was oversubscribed. The bond will be listed on the Oslo Stock Exchange.

The bond has a term of 5 years and carries an interest rate of NIBOR + 6,75%.

Net proceeds from the issue will be used for general corporate purposes.

DnB NOR Markets, First Securities, Pareto Securities and Sparebank 1 Markets v/ Argo Securities acted as joint lead managers of the bond issue.

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12

Contacts:

Teitur Poulsen, CFO, tel.:+47 950 82892

Knut Evensen, VP Investor Relations, tel.: +47 950 77622

About Det norske:

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatorships, exploration- and drilling activity. The aggressive exploration program is the largest an independent Norwegian company has ever conducted on the NCS. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities. Det norske will in 2011 participate in over 10 drilling operations as partner or as operator.

Det norske currently employs a staff of around 200. The company`s registered office is located in Trondheim. The company also has offices in Oslo, Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).

Read more about Det norske at www.detnor.no/en