Stavanger, 22 August 2011: IKM Industri-Invest AS has bought 500,000 shares in Norwegian Energy Company ASA (Noreco) at a price of NOK 5.56 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 18,569,084 shares in Noreco.

For further information, please contact:
Kjetil Bakken, VP Strategy & Investor Relations (+47 91 889 889)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)