Adjustments to the Amendment Agreements enclosed to the Summons to New and Repeated Bondholders’ Meetings

Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway, U.S OTCQX symbol "NSEEY") has proposed to the Bondholders a change in the Loan Agreements whereby Norse Energy Corp ASA ("NEC" or the "Company") is reinstated as the Borrower.

Reference is made to stock exchange notice with summons for New and Repeated Bondholders’ meetings for NEC02, NEC03 and NEC04 dated 17 June 2011.

The amendment agreements have been subject to further discussions and some adjustments have been made (attached). These changes are mainly made in order to make the Attachment more stringent and precise.

For further information please contact:

Richard Boughrum, Chief Financial Officer

Cell: +1 714 520 1702

Email: rboughrum@norseenergy