Mandatory notification of trade

1. February 2013: IKM Industri-Invest AS has bought 98,945 shares in Norwegian Energy Company ASA (Noreco) at a price of NOK 4.85 per share. IKM Industri-Invest AS is controlled by Ståle Kyllingstad, who is Noreco’s chairman. New holding is 35,769,099 shares, representing 10.06 % of the share capital and voting rights 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