North Energy: North Energy ASA - Increases its holdings in PL 484 in the Norwegian Sea

   North Energy: North Energy ASA - Increases its holdings in PL 484 in the
                                Norwegian Sea

Alta, 20 August 2014

North Energy  ASA  is increasing  its  equity holding  in  PL 484  through  an 
agreement on swapping licence interests with Explora Petroleum AS.

Under the agreement on swapping  licence interests, North Energy will  acquire 
20 per cent of PL 484 in the Norwegian Sea and transfer 10 per cent of PL  722 
in the Barents Sea to Explora Petroleum.

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 52990 | 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.

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Source: North Energy via Globenewswire
HUG#1849833
 
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