Share capital increase

Stavanger, 16 October 2009: Norwegian Energy Company ASA (OSE:NOR) 
 
A share capital increase in Noreco (Norwegian Energy Company ASA) following the Private Placement in September has today been registered in the Norwegian Registry of Business Enterprises. As a consequence, the new share capital is NOK 735 533 704.70 divided on 237 268 937 shares, each with a nominal value of NOK 3.10. Noreco's Articles of Association have been amended accordingly. 

Please find attached the updated company certificate.
 
The shares subscribed and paid for in the Private Placement in September will be issued today and be immediately listed on Oslo Stock Exchange under the ticker code "NOR". As a consequence, the new shares will be tradable from and including today.
 
For further information, please contact: 
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)
 

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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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