Board of Directors’ Annual Report and Annual Financial Statements for 2007

13. March 2008

On 12 March 2008, the Board of Directors of Det norske oljeselskap ASA approved the annual financial statements and Board of Directors’ Annual Report for 2007. The documents may be downloded here.

The financial statements have been adjusted as compared to the preliminary annual
statements published in connection with the release of the Q4 2007 Interim Report, see Company Disclosure dated 15 February 2008. For information pertaining to these adjustments, reference is made to Note 31 in the annual financial statements.

The Auditor’s Report will be published with the complete Annual Report 2007 during week 14.

About Det norske:
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 23 operatorships and interests in a total of 45 licenses. Last year (2007), the company drilled five exploration wells. Det norske’s scope of activities is limited to the Norwegian Continental Shelf (NCS). 

Det norske currently employs a staff of more than 100, and the strong growth rate is expected to continue in 2008. The company’s registered office is located in Trondheim. Headquarter functions are divided between Oslo and Trondheim. The company also has offices in Harstad and Stavanger. 

Det norske oljeselskap (“DETNOR”) emerged as a result of the combination between
Pertra and DNO`s Norwegian operations. At the end of January 2008, the stock
value of the company amounted to NOK billion 3.5.