Production October 2011

Stavanger, 3 November 2011: Norwegian Energy Company ASA (Noreco) in October 2011 produced 4,569 barrels of oil equivalents (boe) per day. Net realised oil price was USD 105 per boe after adjustments for oil put options, inventory, NGL and gas prices.

Production per field (boe):
Nini East - 2.962
Nini - 745
Cecilie - 473
Lulita - 285
Enoch - 104

Noreco in July entered an agreement to sell its share of the Siri field to DONG Energy with economic effect from 1 July 2011. Production from this field is therefore no longer included in the monthly production report.

Production volumes and prices are preliminary and subject to adjustments, including final allocations between fields, quality adjustments and prices.

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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