17.01.2012 16:23:41 CET

North Energy :North Energy awarded new exploration licences

North Energy has been awarded a partnership in two new licences on the Norwegian Continental Shelf. With this new award, the company has 25 licences and two operatorships.

This became clear after the authorities today announced the annual awards of blocks on the Norwegian Continental Shelf through the APA scheme (Awards in Predefined Areas).

The awards announced today consist of the following licences:

PL656 - blocks 6610/2, 6610/3, 6611/1 and 6611/2, which are located farthest northeast in the Nordland III area in the Norwegian Sea.

PL616 - blocks 2/7, 2/10 and 2/11 in the southernmost part of the North Sea.

North Energy has participated actively in all licensing rounds since the company started, and has won awards in each round. Work is still ongoing in all licenses. No licenses have been returned to the state.

Contact persons:

Erik Karlstrøm, CEO

Mob: (+47) 476 52 990  E-mail: erik.karlstrom@northenergy.no

Erik Henriksen, Exploration Manager

Mob: (+47) 957 27139  E-mail: erik.henriksen@northenergy.no

Kristin Ingebrigtsen, Director of Strategy & Public Relations

Mob: (+47) 926 05601 E-mail: kristin.ingebrigsten@northenergy.no

Siw Sandvik, Communication Manager

Mob: (+47) 947 93075  E-mail: siw.sandvik@northenergy.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.