Corporate Presentation – Pareto Securities’ Oil & Offshore Conference 2008

Det norske oljeselskap ASA will hold a presentation on Pareto Securities’ Oil & Offshore Conference 2008 today. The presentation is enclosed. This presentation includes an update of the company’s activities, including the following: The company is currently considering selling the entire or parts of its interest in Goliat as well as other solutions, possibly entailing a swap against interests in producing fields or carrying costs, or a combination of these. The company has established and made a data room available to invited parties, and thus far almost 20 participants have availed themselves of this opportunity. Det norske expects to receive offers for Goliat during October, and a decision may be expected around the turn of the year 2008/2009. As part of the company’s assessment of future financing, Det norske will also evaluate a potential sale of its interest (10 percent) in Yme. Discussions between the Frøy license partners are still in progress, and Det norske considers the chances of reaching an agreement to be good. Commercial terms between the partners constitute the key element in these discussions, and the company will also consider reducing its interest in Frøy (from the present 50 percent) subsequent to Plan for Development and Operation (PDO) approval. The last production well on Varg (A08) has been a success. Production from this well started this week at approximately 13,000 barrels per day, which has increased the field’s total production to more than 23,000 barrels per day. This entails an increased production of approximately 650 barrels per day for Det norske’s 5 percent interest.