2010 Full Year Report for Norse Energy Holdings Inc. (US subsidiary of NEC ASA)

Please find audited full year financial statements for Norse Energy Holdings Inc. ("NEHI"), issuer of bonds with ticker codes NEC02, NEC04 RET and NEC05 RET, and its subsidiaries, attached.

For further details, see the attached 2010 Annual Accounts for NEHI's mother company Norse Energy Corp. ASA (ticker code "NEC") and consolidated for the group.

For further information, please contact:

Richard Boughrum, Chief Financial Officer

Cell: +1 714 520 1702

Email: rboughrum@norseenergy.com

Norse Energy Holdings, Inc.

3556 Lake Shore Road - Suite 700

Buffalo, NY 14219 USA