Financial Result of Q4 2010

Good progress on development projects

Det norske oljeselskap ASA is working actively on three potential development projects.  In the fourth quarter, Det norske recorded high operating revenues. In 2010, Det norske oljeselskap ASA confirmed its position as one of the most active exploration companies on the Norwegian continental shelf and the company will continue its extensive exploration activity in 2011. 

Please find, press release, presentation and Q4 report attached.

Contacts:

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

Teitur Poulsen, CFO: +47 950 82 892

About Det norske:

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatorships, exploration- and drilling activity. The aggressive exploration program is the largest an independent Norwegian company has ever conducted on the NCS. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities. Det norske will in 2011 participate in over 10 drilling operations as partner or as operator.

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).

Read more about Det norske at www.detnor.no/en