Confirmed Registration of Increased Share Capital

February 27, 2012

Reference is made to the stock exchange notice dated January 30, 2012 regarding conversion of Bonds to New Shares in Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway; "NSEEY" ticker U.S. OTC).

The share capital increase of NOK 107,114,044 from the debt conversion was registered in the Register of Business Enterprises ("Foretaksregisteret") on February 24, 2012.

Following the debt conversion, NEC has a share capital of NOK 400,803,991.76 divided into 1,086,675,945 shares, each with a nominal value of NOK 0.36883488. Each share carries right to one vote at the Company's general meetings. The updated company certificate is enclosed.

For further information please contact:

J. Chris Steinhauser, Chief Financial Officer

Phone: +1 716 568-2048

Email: csteinhauser@norseenergy.com