Drilling on Ogna prospect has started

Stavanger, 14 January 2013: Drilling of exploration well 8/5-1 on the Ogna prospect in licence PL453S in the North Sea has started. Norwegian Energy Company ASA (Noreco) has through its subsidiary Noreco Norway AS a 25 percent interest in the licence, which is operated by Lundin Petroleum.

Contact:
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