Proposed amendments to DETNOR02 Bond Agreement approved

Reference is made to the stock exchange notice from Det norske oljeselskap ASA ("Det norske" or "the company") on 11 May 2016 concerning the summons to a bondholders' meeting in the DETNOR02 bond loan to request certain amendments to the bond agreement.

The bondholders' meeting in DETNOR02 has now been held. The requested amendments to the loan agreement were approved in accordance with the proposal made by the company in the summons. The proposed resolution obtained 99.71% of the votes.

The effective date of the new loan agreement is 27 May 2016. The notice from bondholders' meeting is attached in this stock exchange notice.

Contacts:
Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18 292
Media contact: Rolf Jarle Brøske, SVP Communications, tel.: +47 911 12 475

About Det norske:
Det norske is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf (NCS). We are building one of Europe’s largest independent E&P companies.

Det norske is the operator of the producing Alvheim field and for the Ivar Aasen field development. In addition, the company is partner in the Johan Sverdrup field. Det norske has an active exploration programme on the Norwegian shelf and an ambitious strategy for growth.

Det norske’s headquarters are located in Trondheim, with branch offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs with 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.