Noreco awarded new licence in UK

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Stavanger, 5 January 2012: Norwegian Energy Company (Noreco) has been awarded a new licence offshore UK. The award is part of the 26th Seaward Licensing Round in United Kingdom, where Noreco has previously been awarded two other licences.

The new licence is located in blocks 12/26b & 12/27, with Suncor as the operator. Noreco has been offered a 22.5 percent share in the licence.

The award adds to Noreco's existing portfolio in the UK, which now includes the Huntington field under development and six exploration licences.

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)
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