Stavanger, 22 June 2011: Norwegian Energy Company ASA (Noreco, OSE:NOR) Arnstein Wigestrand,  Board member in Noreco (NOR), has bought 50 000 shares in Noreco (NOR) at a price of NOK 6.342 per share.

Balance of Arnstein Wigestrand after the transaction: 50 000 shares. 

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)