Paul E. Hjelm-Hansen to Resign as Chief Financial Officer

This article originates from the news archive of Det norske.

17. March 2008

Paul E. Hjelm-Hansen will resign from his position in Det norske by 1 June. For a
transitional period, he will continue to undertake finance-related assignments
in an advisory role. The new CFO will probably take up office during the second

Hjelm-Hansen has served as Chief Financial Officer in Det norske oljeselskap ASA since January 2006. He has been in charge of the processes related to the company’s
stock-exchange listing and the acquisition execution of DNO International’s
Norwegian operations.

Hjelm-Hansen resigns as a consequence of the company’s decision to transfer the CFO function from Trondheim to Oslo.

CEO Erik Haugane states that the transfer is a result of the agreements entered
into with DNO International related to the combination with DNO’s Norwegian

– Det norske is very grateful for the considerable contributions Hjelm-Hansen has made to the company. We are sorry that we will no longer be able to benefit from his expertise and capacity.

About Det norske:
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 23 operatorships and interests in a total of 45 licenses. In 2007, the company drilled five exploration wells. Det norske`s scope of activities is limited to the
Norwegian Continental Shelf (NCS).

Det norske currently employs a staff of more than 100, and the strong growth rate is expected to continue in 2008. The company`s registered office is located in Trondheim. Headquarter functions are divided between Oslo and Trondheim. The company also has offices in Harstad and Stavanger.

Det norske oljeselskap (`DETNOR`) emerged as a result of the combination between Pertra and DNO`s Norwegian operations. At the end of January 2008, the market capitalization of the company amounted to NOK billion 3.5.