Crudecorp ASA: Completion of Prepay Facility with 
Credit Suisse

Reference is made to notification made on 12 July 
2012.

Crudecorp is pleased to announce that the USD 30 
million crude oil prepaid swap facility (the "Prepay 
Facility") with Credit Suisse is completed. 

The prepay Facility is consisting of two elements. 
The principal USD 30 million will be re-paid in 
monthly installments from March 2013 through December 
2016 including a 5% fixed interest charge. The pre-
pay facility involves monthly sales of ICE Brent 
Crude from March 2013 to December 2016, with a 
discount applied. The resulting oil price from the 
sale is then settled on a monthly basis towards the 
average spot price of ICE Brent for that month. The 
total forward sale accumulates to 986,000 barrels of 
oil. The net result of these transactions is a USD 30 
million loan with monthly principal re-payments and a 
forward sale of 986,000 barrels of ICE Brent at USD 
76,29/ bbl over the period March 2013 to December 
2016.

Company contact:
Gunnar Hviding (CEO), +47 915 32 393
Anniken Landré Bjerke (CFO), +47 992 95 314

This information is subject of the disclosure 
requirements acc. to §5-12 vphl (Norwegian Securities 
Trading Act.