Mandatory notification of trade

7/17/2012 8:46 AM EST

Cives AS, a company controlled by the Gunnar Hviding 
(CEO) of Crudecorp ASA has completed a transfer of 
400,000 shares from Cives AS to Time Trader AS, 
another company which is controlled by Gunnar Hviding 
and the same closely related parties jointly. The 
transfer in VPS is effectuated now, but the 
transaction took place and was accounted for in the 
accounts of the two companies having effect in 2011. 
The transaction occurred as a consequence of an 
internal restructuring of ownership in connection 
with one of the private placements that took place in 
Crudecorp ASA in 2011.

Following completion of the transfer, the status with 
respect to the number of shares in Crudecorp ASA that 
is controlled by Gunnar Hviding and closely related 
parties through Cives AS and Time Trader AS remains 
the same, as the number of shares amount to 5,779,608 
shares (2,551,900 for Cives AS and 3,227,708 for Time 
Trader AS), which together equals 6.34% of issued 
shares in the company.   

Stavanger, 10 July 2012 

This information is subject of the disclosure 
requirements acc. to § 5-12 vphl (Norwegian 
Securities Trading Act