Stavanger, 10 January 2012: Norwegian Energy Company ASA (Noreco, OSE:NOR) is pleased to announce that drilling of exploration well 25/6-4 S in license PL414  has started. Target for the well is the Kalvklumpen prospect.

The well will be drilled in the central part of the North Sea about 20 kilometres southeast of the Frøy field and 37 kilometres northeast of the Heimdal field. The well is drilled with the rig Songa Delta.

The partners in license PL414 are Det norske oljeselskap (operator, 40 percent), Noreco (20 percent), Faroe Petroleum Norway (20 percent) and Bayerngas Norway (20 percent).

Contact:
Kjetil Bakken, VP Investor Relations (+47 91 889 889)

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