Tommy Sundt new CFO of Noreco

Stavanger, 30 June 2014: Norwegian Energy Company ASA (Noreco) has appointed Tommy Sundt as Chief Financial Officer (CFO). He will join the company on 2 September 2014.

Until recently and for ten years Mr. Sundt was CFO in Rocksource ASA, an exploration and production company, which is also listed on the Oslo Stock Exchange. Mr. Sundt has previously held positions in companies dealing with business development, entrepreneurial activities and investments. Early in his career he was an auditor.

“We are very pleased to announce the recruitment of Tommy Sundt and to have him on board so soon. This will ensure a smooth transition from our current CFO, Ørjan Gjerde, who handed in his resignation only four weeks ago,” Svein Arild Killingland, CEO of Noreco said.

Tommy Sundt brings with him a strong financial and commercial mindset, and he has extensive experience and knowledge within corporate finance, including equity and debt financing, financial reporting, M&A, investor relations, restructuring and commercial and business development activities.

Tommy Sundt commented: “I am looking forward to joining a strong team in Noreco and to engage myself in the further development of the company.”

Contact:
Svein Arild Killingland, CEO (0047 913 40 786)

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 around 55 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

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