01.09.2014 06:30:00 CET

North Energy ASA - Further increases its holdings in PL 484 in Norwegian Sea

Alta, 1 September 2014

North Energy has entered into a sales- and purchase agreement with Dana Petroleum Norway AS where 18 per cent of PL 484 is being acquired.

Following this transaction, the partners in PL 484 will comprise of North Energy with 53 per cent, Noreco (operator) with 15 per cent, Dana Petroleum with 12 per cent, Explora Petroleum with 10 per cent and EoN Ruhrgas with 10 per cent.

The agreement is conditional on government approval, and the effective date has been set as 1 July 2014.

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