Employee incentive program – share issuance

Stavanger, 14 February 2014: Norwegian Energy Company ASA (Noreco) has as part of its employee incentive scheme issued 2,391,002 new shares at a price of NOK 0.14403 per share.

The new shares are subscribed for by employees of Noreco (no primary insiders). Following registration of the share capital increase in the Norwegian Business Registry, the total number of shares issued in Noreco will be 5,658,485,084, each with a nominal value of NOK 0.10.

Contact:
Ørjan Gjerde, CFO (0047 900 35 738)

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 55 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com