Cancellation of Subsequent Offering

Reference is made to the announcement from Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway, U.S OTCQX symbol "NSEEY") on May 19, of the Subsequent Offering of up to 37,500,00 shares, each with a nominal value of NOK 0.37 and a subscription price of NOK 0.80 per Share.

Based on the fact that the NEC share has been traded below the subscription price during the subscription period, and consequently the low number of subscriptions received, the board has decided to cancel the Subsequent Offering.

Norse Energy is a Herkimer company with significant upside the Marcellus and Utica Shales. At year end 2010 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