Noreco Norway AS announces finalization of early tax assessment

Oslo, November 2, 2017: Reference is made to the bondholder meeting in NOR06 held on 25th of January 2017, which adopted to file for early tax assessment and the subsequent dissolution of Noreco Norway AS (“Company”).

The tax authorities have finalized the tax assessment for 2016. The Company will settle the NOR06 bond by repaying the exit refund of approx. NOK 393 million upon receipt of the funds.

Contact:
investorrelations@noreco.com

***

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 licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.