16.03.2016 15:13:47 CET

North Energy ASA - Disclosure of large shareholding

Oslo, 16 March 2016

North Energy ASA ("North Energy") has on 16 March 2016 sold 137.770 shares in Norwegian Energy Company ASA ("Noreco") at NOK 47 per share. Following this divestment, North Energy holds directly 258.654 (3.65%) of the issued shares and voting rights in Noreco.

Anders Onarheim, Chairman of the Board North Energy ASA
Mob: +47 974 01 511 I E-mail: ao@spitsbergen.no

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