COMPLETED BONDHOLDERS' MEETINGS

Stavanger, 5 November 2013: Reference is made to stock exchange announcement from Norwegian Energy Company ASA ("Noreco" or the "Company", ticker "NOR") on 21 October 2013 and subsequent releases, regarding its proposed refinancing plan.

Bondholders' meetings in the all the Company's bond loans have now been completed. The refinancing plan as proposed by the Company in the summons of 21 October 2013 and with adjustments announced yesterday, 4 November 2013, was supported by sufficient majorities in NOR04, NOR06/07, NOR08 and NOR09. The proposal did however not obtain sufficient majority in NOR05.

The proposal required approval by all bond loans, and as a consequence, the proposal has not been approved.

The Company will revert with additional information in due course. In the meantime, reference is made to previous announcements, including the announcement made at 08:29 CET on 4 November 2013.

For further information, please contact:

Svein Arild Killingland, CEO +47 913 40786
Ørjan Gjerde, CFO +47 900 35 738

This information is subject of the disclosure requirements pursuant to section 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 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

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