30.01.2012 15:06:31 CET

North Energy : Drilling starts on PL 450 Storebjørn

Exploratory drilling on the -"Storebjørn-" prospect in production license 450 in the southern North Sea started 29 January.

The prospect is located in the North Sea near the existing infrastructure of the Ula and Gyda fields. The well will be drilled with the rig Maersk Guardian, and is scheduled to reach total depth by mid-March 2012.

Det norske is the operator, with a 60 per cent stake. Dana Petroleum and North Energy are partners with, respectively 25 and 15 per cent shares

Contact persons:

Erik Karlstrøm, CEO

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

Knut Sæberg, CFO

Mob: (+47) 918 00 720 | E-mail: knut.saeberg@northenergy.no

Kristin Ingebrigtsen, Director of Strategy & Public Relations
Mob: (+47) 926 05 601
E-mail: kristin.ingebrigtsen@northenergy.no

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