Det norske oljeselskap ASA: Rights Issue: Last day of trading in Subscription Rights

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the previous announcements by Det norske oljeselskap (the “Company”) in respect of the rights issue of 61,911,239 new shares in the Company (the “Rights Issue”).

The period for trading in subscription rights (DETNOR T) for the Rights Issue expires today, 24 July 2014 at 16:30 hours (CET).

Subscription rights for participation in the Rights Issue can be exercised during the on-going subscription period, which will expire on 29 July 2014 at 16:30 hours (CET).

Subscription rights that are not used to subscribe for new shares before the expiry of the subscription period (29 July at 16:30 hours (CET)) or that are not sold before 24 July 2014 at 16:30 hours (CET) will have no value and will lapse without compensation to the holder.

For more information, please refer to the prospectus for the Rights Issue dated 9 July 2014.

Investor contacts:
Jonas Gamre, Investor Relations Manager, tel.: +47 971 18 292
Håkon Høgetveit, Investor Relations, tel.: +47 476 29 348

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This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to, or for the account of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act), except pursuant to an effective registration statement under, or an exemption from the registration requirements of, the U.S. Securities Act. All offers and sales outside the United States will be made in reliance on Regulation S under the U.S. Securities Act. No public offering of securities is being made in the United States.

About Det norske:
Det norske oljeselskap ASA (DETNOR) is an active exploration company on the Norwegian Continental Shelf. Det norske’s headquarters is in Trondheim. The company also has offices in Oslo and Harstad. Det norske is listed on the Oslo Stock Exchange with the ticker "DETNOR". More about Det norske at www.detnor.no/en/

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.