Dry well on Luna

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Stavanger, 16 March 2012: Norwegian Energy Company ASA (Noreco) is in the process of completing the drilling of exploration well Luna-1X in licence 1/11 in Denmark. The well did not encounter hydrocarbons.

The partners in licence 1/11 are Noreco (operator, 47 percent), Elko Energy (33 percent) and the Danish North Sea Fund (20 percent).

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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