Successful placement of NOK 1.9 billion bond issue

Reference is made to the announcement made Wednesday June 19 2013 regarding a contemplated offering of a senior unsecured bond.

The Company is pleased to announce that the bond offering has been successfully completed, with a placement of NOK 1,900 million.

“This is the second time Det norske successfully taps into the high-yield bond market. With respect to volume this latest issue ranks among the largest ever in the Norwegian market and the company is very satisfied with the support it has received from the bond investors. The proceeds will contribute to the financing of both the Johan Sverdrup and Ivar Aasen offshore field development projects. Through these projects, Det norske will transform from an exploration company into a full cycle E&P company with a substantial oil production rate,” Executive Chairman Sverre Skogen said.

The bond has a term of 7 years and will be repaid in full at maturity. The bond carries a coupon of 3 months NIBOR + 5.00 percent. Settlement date is expected to be 2. July 2013. An application will be made for the bond to be listed on the Oslo Stock Exchange.

DNB Markets, Nordea Markets, Pareto Securities, SEB and Swedbank First Securities acted as joint lead managers of the bond issue.

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12.

Contact:

Alexander Krane, CFO, tel. + 47 916 30 025
Knut Evensen, VP Investor Relations, tel.: +47 950 77622

About Det norske:
Det norske oljeselskap ASA (DETNOR) is an active exploration company on the Norwegian Continental Shelf. The ambition is to grow into a full cycle E&P company that participates in all parts of the value chain, from exploration to production. 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