Renewal of exploration facility

Stavanger, 20 March 2013: Norwegian Energy Company ASA (Noreco) has through its subsidiary Noreco Norway AS renewed its bank facility for funding the company’s exploration activity in Norway. The facility amounts to NOK 1,240 million and is valid through 2016.

The bank consortium for the facility consists of Sparebank 1 SR-Bank (Bookrunner and Agent), DNB Bank (Bookrunner), BNP Paribas, ABN AMRO Bank and Skandinaviska Enskilda Banken. 

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

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

***

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