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Drilling on Dalsnuten has started

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Stavanger, 10 September 2010: Norwegian Energy Company ASA (Noreco, OSE:NOR) is pleased to announce that drilling of the Dalsnuten prospect (exploration well 6603/5-1S) in the license PL392 has started. The well is being drilled with the rig Aker Barents, and the operator is A/S Norske Shell.

Noreco recently farmed in to the license with a 10% share. This transaction is subject to approval by Norwegian authorities and the license partnership.

Contacts:
Scott Kerr, CEO (+47 992 83 890)
Kjetil Bakken, IR Manager (+47 91 889 889)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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