Increase in Share Capital Subsequent to Exchange Offer

This article originates from the news archive of Det norske.

7. December 2007

Reference is made to the stock exchange notice dated 30 November 2007 relating to the acceptance level in the exchange offer to shareholders in NOIL Energy ASA (formerly Det Norske Oljeselskap ASA) submitted by Det norske oljeselskap ASA (formerly Pertra ASA) and the information document dated 19 November 2007 containing information of the companies and the offer.

After the final count of the acceptances, Det norske oljeselskap ASA (“DETNOR”) has received acceptances for a total of 16,161,032 shares in NOIL Energy ASA (“NOIL”). Including the pre-acceptance shares from DNO International ASA (formerly DNO ASA), DETNOR will own a total of 115,161,032 shares in NOIL, equaling 97.33% of the share capital.

The Board of Directors of DETNOR resolved in a board meeting held on 6 December 2007 to increase the share capital in the company with a total of NOK 1,077,334, equaling 5,386,670 shares, each with a nominal value of NOK 0.20 per share. The new shares will be delivered to the accepters in the exchange offer on or about 11 December 2007.

Subsequent to the registration of the share capital increase in the Norwegian Registry of Business Enterprises, DETNOR will have a share capital totaling NOK 12,985,004 divided on 64,925,020 shares, each with a nominal value of NOK 0.20.