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

North Energy ASA has entered into an agreement with Talisman Energy Norge AS to acquire a 11% working interest in production license PL 341 Stirby.

The license is located in the North Sea approximately 25 km north of the Gudrun field and North East of the Brae field.

The drilling of the exploration well on the 341 Stirby prospect started on August 16th  2010 with the drilling rig Songa Delta".  This is the second well to be drilled by North Energy and is part of a drilling program with 8 wells to be drilled in the period 2010-2012.

Following completion of the transaction, North Energy ASA will have a 11% working interest in PL 341, together with Det norske oljeselskap ASA (operator and 30%), Wintershall Norge ASA (20%), Marathon (12%), GDF SUEZ E&P Norge AS (10%), Bayerngas Produksjon Norge AS (10%) and Talisman Energy Norge AS (7%).

For more information please contact:
CEO, Erik Karlstrøm, + 47 476 52 990
CFO, Knut Sæberg, + 47 918 00 720