PetroNor E&P Appointed Interim CEO

Reference is made to yesterday’s stock exchange announcement confirming that the National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway (Økokrim) had entered the premises of PetroNor E&P Limited in Oslo. The Company has been informed that CEO of PetroNor E&P Limited, Knut Søvold, is one of the individuals being detained as part of the authorities’ investigations to obtain information that may confirm or disprove a suspicion of a criminal offense. In order to ensure that the Company’s ongoing operations are well taken care of during the investigation period the board has appointed board director Jens Pace as interim CEO with immediate effect. The Company cooperates fully with authorities in order to facilitate an efficient completion of the investigations.