Financial Result of Q3 2010

​

Successful operations

Det norske oljeselskap ASA continues its ambitious strategy on the Norwegian continental shelf. The company is operator for an advanced exploration well, and is also making improvements to three development projects. A new charterparty for the Aker Barents has secured Det norske long-term rig capacity for operations in deep waters and in the Barents Sea.

CEO Erik Haugane says that Det norske has great belief in the Norwegian continental shelf.

’We are always seeking more and better areas to explore. It is important to expand our activities, not least in the north, in order to get confirmation of the vast resources that we believe are present in the Barents Sea. We will participate actively in these efforts, and our recent submission of applications in the 21st licensing round was confirmation of this.’

Please find, press release, presentation and Q3 report attached.

Contacts:

Knut Evensen, VP Investor Relations : +47 950 77 622

Torgeir Anda, VP Communication: +47 991 12 203

About Det norske:

Det norske oljeselskap ASA has interests in a total of 72 licenses, with 35 operatorships.

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatotships and exploration activity. I 2009 the company operated nine exploration wells or on behalf of other operators, and the high activity has continued in 2010. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities.

Det norske currently employs a staff of around 200. The company`s registered office is located in Trondheim. The company also has offices in Oslo, Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).

More information about Det norske: www.detnor.no