Board changes

Stavanger, 3 October 2014: Reference is made to announcement from Norwegian Energy Company ASA (Noreco) 1 October 2014 regarding resignations from the Board. In a meeting on 2 October 2014, the Board appointed board member Hilde Drønen as acting Chairman.

Noreco has further received a request for the convening of an extraordinary general meeting from shareholder Sabaro Investments Limited for election of members of the Board. The extraordinary general meeting will be held within the one month deadline as set out in section 5-7 (2) of the Norwegian Public Companies Act. A formal notice will be distributed separately in due course, with a statutory notice period of three weeks

Contact:
Tommy Sundt, CFO. Tel.: 47 992 83 900
Geir Arne Drangeid, IR contact. Tel.: 47 913 10 458 

Or email: investorrelations@noreco.com

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

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company's focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs 53 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.