Results of Bondholder Meeting
Reference is made to the news release of May 12 2011 where Norse Energy Holdings Inc (“NEHI”, a subsidiary of Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway, U.S OTCQX symbol "NSEEY") proposed to its Bondholders a change in the Loan Agreements for the bond loans NEC02, NEC03, NEC04 and NEC05. The amendment proposal entails that Norse Energy Corp ASA ("NEC") is reinstated as the Borrower while Norse Energy Holdings Inc (“NEHI”) becomes guarantor. The amendment will have as consequence that there is no longer a legal requirement on NEHI to deduct a 30% U.S. withholding