Dry well on Lupin

Stavanger, 22 April 2013: Norwegian Energy Company ASA (Noreco) has been adviced by its operating partner Statoil that drilling of the exploration well on the Lupin prospect in licence PL360 in the Norwegian part of the North Sea is about to be completed. The well has not encountered hydrocarbons.

Further work in the licence will concentrate on prospectivity in Upper and Middle Jurassic, which has become more attractive following recent discoveries in the area.

Noreco has 15 percent interest in licence PL360, which is operated by Statoil.

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

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

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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