Alta, 31 January 2013 

North Energy has contributed to the establishment of a new partnership for Norwegian production licence 510. Maersk Oil becomes the new operator with a 50 per cent holding and with partners Edison (30 per cent) and North Energy (20 per cent).

PL 510 formed part of the 2008 awards in pre-defined areas (APA), and lies on the Halten Bank in the Norwegian Sea close to several producing fields.

The decision has been taken to drill an exploration well in the licence, which adds a further firm well to North Energy's drilling programme.

Contacts;

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 of Strategy & PR/PA
Mob: (+47) 926 05 601 E-mail: kristin.ingebrigtsen@northenergy.no

This information is mandatory under Section 5-12 of the Securities Trading Act.