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Det norske oljeselskap ASA: Summons to bondholders meeting

Trondheim, 11 May 2016

Det norske oljeselskap ASA ("DETNOR") today summons to a bondholders'
meeting in its DETNOR02 bond loan to request certain amendments to
the bond agreement.

As announced in the Q1-2016 report on 29 April 2016, the Company has
reached an agreement with its group of banks to ease the covenant
thresholds. The Company has obtained confirmation of support from
Bondholders holding in excess of 50 percent of the outstanding bonds
to vote in favor of the Proposal set out in section 2 in the attached

The proposal to bondholders includes, inter alia, the same covenant
level thresholds and duration as the revised levels agreed with the
banks. As compensation, the DETNOR02 bonds will be repaid at 104
percent of par at maturity in 2020.

For further information, please see the attached summons to the
bondholders' meeting.

Investor contact: Jonas Gamre, VP Investor Relations, tel.: +47 971 18

Media contact: Rolf Jarle Brøske, SVP Communications, tel.: +47 911 12

About Det norske:
Det norske is a fully-fledged E&P company with exploration,
development and production activities on the Norwegian Continental
Shelf (NCS). We are building one of Europe's largest independent E&P

Det norske is the operator of the producing Alvheim field and for the
Ivar Aasen field development. In addition, the company is partner in
the Johan Sverdrup field. Det norske has an active exploration
programme on the Norwegian shelf and an ambitious strategy for

Det norske's headquarters are located in Trondheim, with branch
offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo
Børs with ticker `DETNOR'. More about Det norske at

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


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