Stavanger, 2 January, 2009: Norwegian Energy Company ASA (Noreco,
OSE:NOR), Exploration drilling on the Hyme prospect in Norway has
started.

Drilling of the exploration well Hyme 2/5-14S in license PL006C in
the North Sea sector of the Norwegian Continental Shelf (NCS) has
commenced (see attached map).  The well is being drilled by the
jack-up rig Mærsk Gallant. After the Hyme well has been completed, a
side track 2/5-14A will be drilled to appraise the oil discovery
South East Tor. Drilling results from Hyme and South East Tor are
expected in first quarter 2009. Noreco owns 15% of the license,
and Lundin Petroleum is the operator.

For further information, please contact:
Einar Gjelsvik, Vice President Investor Relations (+47 992 83 856)

www.noreco.com


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.
http://hugin.info/138447/R/1280211/285979.pdf


Copyright © Hugin AS 2009. All rights reserved.