Unsecured bond

Det norske oljeselskap ASA is contemplating a senior unsecured bond issue with maturity in January 2016 directed towards Norwegian and international investors. The net proceeds from the issue will be used for general corporate purposes. The contemplated bond issue will have minimum issue amount of NOK 400 million and a borrowing limit of NOK 600 million.

DnB NOR Markets, First Securities, Pareto Securities and Sparebank 1 Markets v/ Argo Securities are mandated as joint lead arrangers of the contemplated bond issue.

NOT FOR DISTRIBUTION IN THE UNITED STATES

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

Contacts:

Knut Evensen, VP Investor Relations, tel.: +47 950 77 622

About Det norske:

Det norske oljeselskap ASA has interests in a total of 72 licenses, with 35 operatorships.

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatotships and exploration activity. I 2009 the company operated nine exploration wells or on behalf of other operators, and the high activity has continued in 2010. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities.

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).

More information about Det norske: www.detnor.no