Board of Directors’ statement regarding salaries and other remuneration for senior management
Reference is made to Notice of Annual General Meeting in Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway, U.S OTCQX symbol "NSEEY") posted May 9, 2011.
Please find attached Appendix 3 to the notice, regarding item 6 on the Agenda: the Board of Directors’ statement regarding salaries and other remuneration for senior management.
The proxy to increase the share capital in (Appendix 5 to the notice) includes a renewal of the existing program (18 million options, no change in terms) and a new option program of up to 38 million options.
Norse Energy is a Herkimer company with significant upside the Marcellus and Utica Shales. At year end 2009 the Company had third party certified total contingent resources of ~3.9 TCF (~700 MMBOE) of which approximately 3.7 Tcf are in the Marcellus and Utica. The Company has a significant land position of 180,000 net acres in New York State.
For further information, please contact:
Richard Boughrum
Chief Financial Officer
Cell: +1 714 520 1702
rboughrum@norseenergy.com