Production April 2012

Stavanger, 4 May 2012: Norwegian Energy Company (Noreco) in April 2012 produced 4,584 barrels of oil equivalents (boe) per day. Net realized price in April was USD 115 per boe after adjustments for oil put options, inventory, NGL and gas prices.

Production per field, April 2012 (boe per day):
Nini East - 2,212
Oselvar - 948
Cecilie - 589
Nini - 510
Lulita - 309
Enoch - 17

Production from the Oselvar field started in the middle of April from one well, while the second well was started towards the end of the month. The third well will be completed and start producing this summer.

The Enoch field is shut down pending maintenance work, and the production volume is related to inventory adjustments.

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

Kjetil Bakken, VP Investor Relations (+47 91 889 889)

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

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