Mandatory notification of trade

25 April 2013

Reference is made to the stock exchange release made by Norse Energy Corp. ASA (the “Company”) on 25 April 2013 regarding the Company’s resolution to issue a convertible loan (the “Convertible Loan”).

On 25 April 2013, board member and primary insider Bjarte Bruheim subscribed for NOK 1,500,000 in the Convertible Loan. Assuming full conversion at a conversion price of NOK 0.075, this represents 20,000,000 shares in the Company.

Following subscription of the Convertible Loan, Bjarte Bruheim holds, directly and indirectly, 1,200,000 shares, 0 options and the NOK 1,500,000 convertible loan as set out above, in the Company.

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