Mandatory notification of trade

Stavanger, 30 December 2013: Members of the management in Norwegian Energy Company ASA (Noreco) have today sold shares in Noreco. 

Svein Arild Killingland, CEO in Noreco, has sold 150 000 shares at a price of NOK 0.21 per share. Killingland holds no shares in Noreco after this, but will subscribe in the ongoing secondary offering for more than his allocated subscription rights. Killingland has subscription right for close to 900 000 shares.

Ørjan Gjerde, CFO in Noreco, has through Kvile Invest AS sold 145 000 shares at a price of NOK 0.21 per share. Gjerde holds no shares in Noreco after this, but will subscribe in the ongoing secondary offering for minimum his allocated subscription rights. Gjerde has subscription rights for close to 870 000 shares.

Contact:
Ørjan Gjerde, CFO (0047 900 35 738)

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act
 

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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