Stavanger, 13 February 2012: Norwegian Energy Company (Noreco) is pleased to announce that drilling of exploration well Luna-1X in license 1/11 in Denmark has started. Target for the well is the Luna prospect.

The well is being drilled in the North Sea, 150 km northwest of Esbjerg, with the rig Maersk Resolve.

The partners in license 1/11 are Noreco (operator, 47 percent), Elko Energy (33 percent) and the Danish North Sea Fund (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)