Increase in share capital

Stavanger, 21 November 2012

Reference is made to the stock exchange announcement dated 14 November 2012 regarding the completion of the subsequent offering in Norwegian Energy Company ASA (the "Company") comprising the issuance of 1,038,010 new shares.

The share capital increase pertaining to the subsequent offering has now been registered with the Norwegian Register of Business Enterprises. The Company’s new registered share capital is NOK 1,096,876,444.10 divided into 353,831,111 shares, each with a nominal value of NOK 3.10.

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

Denne informasjonen er underlagt offentliggjøringskravene i henhold til verdipapirhandelloven § 5-12.

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

About Us

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.

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