CFO Ørjan Gjerde is leaving Noreco

Stavanger, 3 June 2014: Ørjan Gjerde, who has been CFO at Noreco since March 2012, has handed in his resignation and will leave the company by 31 August 2014. The search for his replacement has already commenced.

Under Gjerde’s leadership, Noreco has built a highly competent finance and accounting group. He has also headed the company’s investor relation activities. During the past year, he has played a central role in the financial and operational restructuring of the company, hereunder the refinancing that took place in the autumn of 2013.

Gjerde has informed Noreco that he is leaving in order to take part in a new business venture. Noreco wishes to express its gratitude for his service to the company, and wishes him the best of luck in his future ventures.

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Contacts:
Svein Arild Killingland, CEO (0047 913 40 786)
Ørjan Gjerde, CFO (0047 900 35 738)

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 license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 55 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com