Stavanger, 25 January 2010: Norwegian Energy Company ASA (Noreco -OSE:NOR),

Pursuant to the incentive scheme for the employees in Noreco, approved at the
general meeting held 27 May 2009, bonus for 2009 has been paid out to the
employees.
According to the incentive scheme, the employees may purchase Noreco shares
representing up to 50% of their bonus, at market price. Furthermore, certain of
the employees are entitled to shares as part of a pension arrangement under the
incentive scheme.

As a result of this, the board of directors of Noreco has approved a capital
increase of NOK 1.873.271,10  by issuing 604 281 shares. The shares will be
issued following registration of the share capital increase in the Register of
Business Enterprises.

The following primary insiders in Noreco have subscribed for shares
under the incentive scheme for employees:

- Scott Kerr has 22 January 2010 subscribed for 50 338 shares in Noreco at NOK
19,65 per share. Balance after transaction: 1 745 626 shares.

- Rune Martinsen has 22 January 2010 subscribed for 27 254 shares in Noreco at
NOK 19,65 per share. Balance after transaction: 715 339 shares

- Jan Nagell has 22 January 2010 subscribed for 27 913 shares in Noreco at NOK
19,65 per share. Balance after transaction: 89 963 shares

- Thor Arne Olsen has 22 January 2010 subscribed for 42 394 shares in Noreco at
NOK 19,65 per share. Balance after transaction: 1 327 128 shares

- Stig Frøysland has 22 January 2010 subscribed for 26 641 shares in Noreco at
NOK 19,65  per share. Balance after transaction: 90 160  shares.

- Birte N Borrevik has 22 January 2010 subscribed for 29 266 shares in Noreco at
NOK 19,65 per share. Balance after transaction: 181 995 shares.

- Einar Gjelsvik has 22 January 2010 subscribed for 12 948 shares in Noreco at
NOK 19,65 per share. Balance after transaction: 100 183 shares.

- Lars Fosvold has 22 January 2010 subscribed for 22 862 shares in Noreco at NOK
19,65 per share. Balance after transaction: 110 067 shares.

Malin E Flor Helgesen has 22 January 2010 subscribed for 2 185 shares in Noreco
at NOK 19,65 per share. Balance after transaction: 43 247 shares.


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

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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