Stavanger, 18 April 2012: Norwegian Energy Company ASA (Noreco) is currently drilling exploration well 7228/1-1 on the Eik prospect in the Barents Sea.

The preliminary drilling results indicate that the well does not contain commercial quantities of hydrocarbons.

The well is located in licence PL396 in the Barents Sea, about 200 kilometres north east of North Cape, and is drilled by the drilling rig Transocean Barents.

The partners in licence PL396 are Noreco (operator, 50 percent), Front Exploration AS (30 percent) and Petoro AS (20 percent).

Contact:
Kjetil Bakken, VP Investor Relations (+47 91 889 889)

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)