27.07.2012 07:00:00 CET

North Energy ASA - Dry exploration well on the Kakelborg prospect

Alta, 27 July 2012

The operator for Kakelborg PL 370, Wintershall Norge, is about to complete drilling operations on the prospect.

No hydrocarbons were encountered, and the well will be plugged and abandoned as a dry well.

North Energy holds a 10 percent ownership in the licence. The operator, Wintershall Norge holds 40 percent, Agora 30 percent and Concedo holds a 20 percent ownership.

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.