23.03.2010 12:04:00 CET

Hydrocarbon Discovery in well 6506/9-2S in the Norwegian Sea - PL 433

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

North Energy ASA as partner for drilling the exploration well 6506/9-2 S in Production License 433 do announce possible hydrocarbons in the well. This is the first North Energy well on the NCS.

The well is located approximately 18 kilometres northwest of Åsgard . The well is the first in PL 433, which was awarded in APA 2006.

The participants in PL 433 are Centrica Resources Norge AS (Operator - 28%), Petro-Canada Norge AS (30%), E. ON Ruhrgas Norge AS (15%), Faroe Petroleum Norge AS ( 15%) and North Energy ASA  (12%).

An extensive data acquisition programme is ongoing, including coring. When completed the NPD will in agreement with the Operator, publish a more comprehensive press release.

Erik Karlstrøm, CEO, mobil phone: +47 476 52 990
Svein Johansen, Exploration Manager, mobile phone: + 47 975 12 846
Christina Søgård, Communication and IR Manager, mobile phone: + 47 975 22 020