Completed EGM

Stavanger, 26 October 2012:

An Extraordinary General Meeting of the shareholders of Norwegian Energy Company ASA (the "Company", ticker "NOR") was held today, 26 October 2012, at 14:00 (Oslo time).

The minutes from the Extraordinary General Meeting recording the resolutions made are enclosed hereto. As follows from the minutes, the Extraordinary General Meeting approved all proposals made by the Company's board of directors as set out in the notice issued on 3 October 2012, including approval of the private placement and the subsequent offering as further described therein. 

Consequently, all conditions for completion of the NOK 400,000,000 private placement and the NOK 300,000,000 bond issue as announced by the Company in previous stock exchange notices have now been fulfilled. The Company will proceed with settlement as soon as possible.

Contacts:

Einar Gjelsvik, CEO (+47 992 83 856)
Kjetil Bakken, VP Investor Relations ( 47 91 889 889) 

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

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