Rights Issue resolved by the General Meeting

An Extraordinary General Meeting of the shareholders of Det norske oljeselskap ASA (the “Company”) was held today, 3 July 2014 at 17:00 hours (CET).

The Extraordinary General Meeting resolved the proposed rights issue (the “Rights Issue”) of new shares in the Company as announced on 2 June 2014. Please find attached the minutes of the Extraordinary General Meeting.

The further terms and conditions for the Rights Issue will be determined by the Board of Directors of the Company and detailed in a prospectus to be published following approval of such prospectus by the Norwegian Financial Supervisory Authority, expected to be in mid-July.

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This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of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.

For more information please contact:
Investor contact: Investor Relations Manager, Jonas Gamre, tel.: 971 18 292

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

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/