Pertra/NOIL Offer Document

This article originates from the news archive of Det norske.

21. November 2007

As previously announced in Company Disclosure dated 9 October 2007, the Board of Directors of Pertra ASA “Pertra” (renamed Det norske oljeselskap ASA), Det Norske Oljeselskap ASA “NOIL” (renamed NOIL Energy ASA), and DNO ASA (renamed DNO International ASA) resolved to execute a combination of Pertra and NOIL. The combination was approved by Extraordinary General Meetings in DNO and Pertra held
8 November 2007. Reference is also made to Company Disclosure dated 20  November 2007.

The combination of the companies will be structured as an exchange offer, whereby NOIL shares will be exchanged for Pertra shares. Accordingly, Pertra will make an  offer to acquire all shares in NOIL in exchange for Pertra shares at an exchange ratio of 3:1 (three NOIL shares will give right to one new Pertra share).

The acceptance period for the Offering will commence on and include 21 November and shall expire on Friday 30 November 2007 at 16:30 hours (CET). The Offer Document contains a description of the Offer in addition to updated information pertaining to Pertra and Pertra shares. The Offer Document may be downloaded here, and is also available from Pareto Securities’ home page (www.pareto.no ). It may be obtained by request to the Companies or to the Manager. The Offer Document will be distributed free of charge to all remaining shareholders in NOIL.

As of today, Pertra already owns a total of 99,000,000 shares in NOIL, corresponding to 83.67% of the share capital in NOIL.