Minutes from extraordinary general meeting

Stavanger, 17 September 2014: An extraordinary general meeting in Norwegian Energy Company ASA ("Noreco", ticker "NOR") was held today, 17 September 2014, in Noreco's premises in Stavanger.

The general meeting approved the proposed reverse split of the Company’s shares and the authority to increase the share capital to facilitate the reverse split.

Immediately thereafter the Board of Directors resolved to increase the share capital accordingly. Following completion of the share capital increase (but prior to the effectuation of the reverse split) the Company will have a share capital of NOK 565 848 510 divided into 5 658 485 100 shares each with a nominal value of NOK 0.10.

Minutes from the general meeting are attached, and are also available on www.noreco.com.

Contact:
Tommy Sundt, CFO (0047 908 55 000)

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

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