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2016-01-20

North Energy: North Energy - Mandatory notifications of trade and disclosure of large shareholding

Anders Onarheim, Chairman of the Board of Directors of North Energy ASA, has
purchased 5,500,000 shares at NOK 1.02 per share via his fully owned company
AB Investment AS. The total number of shares beneficially owned by Onarheim
through AB Investment AS and Isfjorden AS after the transaction is
11,928,445, which equals 10.02% ownership in North Energy ASA.

Jogeir Romestrand, member of the Board of Directors of North Energy ASA, has
purchased 350,000 shares at NOK 1.02 per share via his fully owned company
Rome AS. Total number of shares owned after the transaction is 1,100,000.

Knut Sæberg, Acting CEO of North Energy ASA, has purchased 300,000 shares at
NOK 1.02. Total number of shares owned after the transaction is 542,869.

Didrik Leikvang, financial advisor to North Energy ASA and primary insider,
has purchased 600,000 shares via his fully owned company Kharybdis AS at an
average price of NOK 1.02. Total number of shares owned after the transaction
is 1,000,000.

Anders Onarheim and Didrik Leikvang are both associated with Isfjorden AS,
which owns a total of 8,570,651 shares (7.2%) in North Energy ASA.

For further information, please contact:

Knut Sæberg
Acting CEO
(+47) 918 00 720

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: North Energy via Globenewswire

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