YEAR-END 2012 CERTIFIED RESOURCES AND RESERVES
13 February 2013
Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway)
announces the results of the Company's year-end 2012 reserves and
resources certification performed by Schlumberger Technology
Corporation, the Company's long-standing reserve and resources third
party certification agent.
The Company's Certified 2C Contingent Resources remain at 951 Net MMBOE,
the same as previously certified by Schlumberger on June 30, 2012, and
71 Net MMBOE higher than the year-end 2011 value of 880 MBOE.
The Company's Net Proved Reserves of 9.865 Bcf or 1.7 Net MMBOE at year
-end 2012 also remains identical to the reported June 30, 2012 volumes.
"Schlumberger's year-end certification of the Company's significant
liquids rich gas, and dry gas resources in the Marcellus, Utica and
Upper Devonian Shales in New York State supports our view of the
attractiveness of the Company's assets," commented CEO, Mark Dice.
Norse Energy owns or leases approximately 130,000 net acres in New York
State, of which ~33,000 lie in the liquids rich shale fairways of
Western New York, and the remaining ~97,000 net acres lie in the
Marcellus and Utica natural gas fairways of Central New York. The
Company's certified 2C Contingent Resources are now 951 net MMBOE or 5.4
For further information, please contact:
Chris Steinhauser, Chief Financial Officer
Office: +1 713 975 1900
S. Dennis Holbrook, Chief Legal Officer
Office: +1 716 568 2048