Issuance of new share capital following conversion of convertible bond loan

Reference is made to the stock exchange announcement made on the 5th of December 2011.

As a result of the conversion of AKX01 bonds into shares, Det norske oljeselskap ASA has on the 16th of December 2011 issued 5.693.564 new shares. 

Following the share issue, the company will have 127,915,786 shares, and the new shares will constitute 4.45 percent of the total outstanding share capital. The company does not have any additional options or financial instruments outstanding that can be converted into shares. 

Contacts: 

Teitur Poulsen, CFO, tel. +47 950 82 892 

Knut Evensen, VP Investor Relations, tel.: +47 950 77 622