Stavanger, 31 October 2011: IKM Industri-Invest AS has bought 215,000 shares in Norwegian Energy Company ASA (Noreco) at a price of NOK 5.93 per share. IKM Industri-Invest AS is controlled by Ståle Kyllingstad, who is chairman of Noreco's board of directors.

After this, IKM Industri-Invest AS holds 20,926,035 shares in Noreco.

For further information, please 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)