Trondheim, 2010-05-10

Det norske found more oil and is planning a fast development

Det norske oljeselskap ASA (DETNOR) has discovered more oil in Draupne.
The oil discovery ranks as one of the largest on the Norwegian shelf in
recent years and a fast development is likely.

A combined development of Draupne and the two neighbouring discoveries
Hanz and West Cable holds total estimated recoverable volumes of between
110 million and 150 million boe.

Det norske Chief Executive Erik Haugane is optimistic with respect to a
development of this area,
- The volumes we are looking at now are larger than previously
estimated, and we will continue to work on development solutions that
could yield first oil already in 2014. With support from our partners,
we could file a plan for development and production next year.

Confirms considerable discovery

Det norske discovered Draupne in 2008. On 22 April this year, Det
norske announced that a successful production test had been carried out
in appraisal well 16/1-11. Results from the test showed that future
production wells could yield rates of about 12 000 barrels per day of
good quality oil. Neither the discovery well nor the appraisal well
detected how deep down the oil column goes, a necessary parameter in
order to estimate recoverable volumes. Thus, it was decided to drill a
sidetrack well, targeting a deeper part of Draupne (well 16/1-11A).

The oil-water contact was found in the sidetrack well. This proves that
the oil column is deeper than previously expected. The total oil and gas
column is about 150 metres, of which 90 metres are gas.

The proven hydrocarbons have good characteristics. This forms the basis
for a development with robust economics. Det norske is looking at a
development of Draupne in connection with the two discoveries Hanz and
West Cable, located north and west of Draupne, respectively.

We consider that a development of all these three fields have total
recoverable volumes of between 110 million and 150 million boe, Det
norske Vice President Odd Ragnar Heum said.

The semi-submersible drilling rig Songa Delta, which is on contract to
Det norske and Wintershall, will now mobilise to drill a well for
Wintershall in PL 475. The next drilling operation that Songa Delta will
perform for Det norske is on the Stirby prospect in PL 341, with
expected start-up in July.

Contacts:

Knut Evensen, VP Investor Relations, tel.: +47 950 77 622
Odd Ragnar Heum, Sr. VP Field and Area Development, tel.: +47 93 22 40
76

About Det norske:

Det norske oljeselskap ASA has interests in a total of 77 licenses, with
37 operatorships.

Det norske is the second-largest operating company on the Norwegian
Continental Shelf both considering number of operatotships and
exploration activity. I 2009 the company operated nine exploration
wells, and the high activity will continue in 2010. Det norske runs its
activities in a safe and responsible manner in close cooperation with
the authorities.

Det norske currently employs a staff of 180. The company`s registered
office is located in Trondheim. The company also has offices in
Oslo,Harstad, and Stavanger. Det norske is listed on the Oslo Stock
Exchange (DETNOR).