North Energy ASA - Director's Dealing 2016

North Energy - Mandatory notifications of trade and disclosure of large shareholding

Anders Onarheim, Chairman of the Board of Directors of North Energy ASA, has

purchased 5,500,000 shares at NOK 1.02 per share via his fully owned company AB

Investment AS. The total number of shares beneficially owned by Onarheim through

AB Investment AS and Isfjorden AS after the transaction is 11,928,445, which

equals 10.02% ownership in North Energy ASA.

Jogeir Romestrand, member of the Board of Directors of North Energy ASA, has

purchased 350,000 shares at NOK 1.02 per share via his fully owned company Rome

AS. Total number of shares owned after the transaction is 1,100,000.

Knut Sæberg, Acting CEO of North Energy ASA, has purchased 300,000 shares at NOK

1.02. Total number of shares owned after the transaction is 542,869.

Didrik Leikvang, financial advisor to North Energy ASA and primary insider, has

purchased 600,000 shares via his fully owned company Kharybdis AS at an average

price of NOK 1.02. Total number of shares owned after the transaction is

1,000,000.

Anders Onarheim and Didrik Leikvang are both associated with Isfjorden AS, which

owns a total of 8,570,651 shares (7.2%) in North Energy ASA.

For further information, please contact:

Knut Sæberg

Acting CEO

(+47) 918 00 720

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1980060]

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