19.08.2014 09:15:19 CET

North Energy ASA - PL 713 Pingvin well spudded

Alta, 19 August 2014

Exploration drilling started up last night on the Pingvin prospect in production licence 713 in the Barents Sea.

The prospect is located west of Johan Castberg. The well, 7319/12-1, is being drilled by Transocean Spitsbergen.
The objective of the drilling is to detect hydrocarbons in the reservoir of Cretaceous/Tertiary age in Bear Island basin. Water depth at the well is approximately 420 meters, and the operation is estimated to 26 days.

Partners in the licence are Statoil (operator 40 per cent share), RN Nordic Oil (20 per cent share), Edison (20 per cent share) and North Energy (20 per cent share).

Further information from:

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 organisation and communication
Mob: +47 926 05 601 E-mail: kristin.ingebrigtsen@northenergy.no

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