Niobe exploration well dry

Stavanger, 25 June 2015: The Niobe exploration well has been drilled to target depth without encountering hydrocarbons. The well will now be plugged and abandoned.

Spudded on 8 June 2015 the well was drilled by the jackup drilling unit Ensco 100 in the P1889 licence, close to the Beatrice oil field in the Outer Moray Firth area off the north east coast of Scotland.

Norwegian Energy Company (UK) Ltd, a subsidiary of Norwegian Energy Company ASA, is partner in the licence with a current equity interest of 22.5 per cent.

Please see market notification dated 8 June 2015 for more information.

Contact:
investorrelations@noreco.com

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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. Noreco was incorporated in 2005 and operates in Norway, Denmark and United Kingdom. The company’s stock is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.