Mandatory notification of trade

10 January 2013: Einar Gjelsvik, CEO in Norwegian Energy Company ASA (Noreco) has today bought 15,000 shares in Noreco at a price of NOK 4.40 per share. After this, Gjelsvik holds 223,302 shares in Noreco.

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

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