Updated standard distribution

Mandatory notification of trade

Stavanger, 20 September 2011: IKM Industri-Invest AS has bought 200,000 shares in Norwegian Energy Company ASA (Noreco) at a price of NOK 4.95 per share. IKM Industri-Invest AS is controlled by Ståle Kyllingstad, who is chairman of Noreco's board of directors.

After this, IKM Industri-Invest AS holds 20,711,035 shares in Noreco.

For further information, please contact:
Kjetil Bakken, VP Strategy & Investor Relations, +47 91 889 889

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

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.