17.12.2012 16:05:34 CET

North Energy ASA - Drilling completed at Jette

Alta, 17 December 2012

Drilling of exploration well 6607/12-3 on the Jette prospect in licence PL385 in the Norwegian Sea is about to be completed. The well has encountered gas. Preliminary calculations indicate that the discovery is not commercial. More evaluation and analysis will however be performed to further clarify the resource potential in the discovery.

North Energy ASA (North) has 15 percent interest in the licence, which is operated by Statoil.

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, Vice president strategy and PA/PR
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.