Notice to Noreco Bondholders regarding interest payment due on NOR06

Oslo, 31 August 2016: With reference to NOR06 - 6.5 per cent Noreco Norway AS Senior Secured Callable Bond Issue 2015/2018 ISIN 001 060632.0, the interest payment due 6 September 2016 will be settled through the issuance of additional bonds (i.e. PIK and not cash).

Contact:

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. Since incorporation in 2005, the company has grown through licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom. Noreco 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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