Approval and publication of prospectus

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION WHERE THIS WOULD BE UNLAWFUL.

Stavanger, 12 May 2015:

Reference is made to previous market notifications from Norwegian Energy Company ASA ("Noreco" or the “Company”) concerning the restructuring and listing of the new shares issued as part of the conversion of bond debt.

The Financial Supervisory Authority of Norway has today approved a prospectus dated 12 May 2015 (the "Prospectus"), for the listing of 652 715 195 new shares in Noreco, each with a nominal value of NOK 0.10. The Prospectus will be available at www.noreco.com and hard copies of the Prospectus may be obtained free of charge at the offices of the Company, Badehusgata 37, Stavanger, Norway. The new shares are expected to be listed and tradable on Oslo Børs from and including tomorrow, 13 May 2015.

This information is subject of the disclosure requirements pursuant to Sections 5-12 and 7-19 (4) of the Norwegian Securities Trading Act cf. Article 31 of Regulation 809/2004/EC.

Contact:
Odd Arne Slettebø, CFO. Tel.: +47 992 83 900
or investorrelations@noreco.com

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The Company's focus is to explore, develop and produce oil and gas in the North Sea region. Noreco was incorporated in 2005 and operates in Norway, Denmark and United Kingdom. The Company’s stock is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com

About Us

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.

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