HERKIMER AND MARCELLUS TRENDS ON THE RISE

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTC symbol “NSEEF”) announces the successful completion of one new horizontal Herkimer well in a field that is estimated to hold upwards of one half trillion cubic feet (0.5 Tcf = 90 MMBOE) of natural gas. The well had an initial production rate of 1,300 Mcf per day and is already producing into line and continues a very positive recent trend of increasing production results. The last five horizontal Herkimer wells have averaged initial flow rates into line approaching one million cubic feet (178 BOE) per day, significantly above earlier expectations. Norse Energy has estimated average reserves for the Herkimer field at 1.2 billion cubic feet (214,000 BOE) per well. With the addition of this well, the Company has now met its previously announced goal of drilling 8 additional horizontal Herkimer wells during the fourth quarter of 2008. It has scheduled 25 additional horizontal Herkimer wells to be drilled during calendar 2009. The company has 250 seismically identified locations in the Herkimer formation with a likelihood of adding another 250 locations in its 130,000 acre leasehold position in central New York.

Norse Energy currently produces 6,700 Mcf per day. However, production is constrained by an interstate pipeline meter scheduled to be upgraded shortly.

As a result of recent core analysis from Norse Energy's wells in the Marcellus formation, Schlumberger ECS log estimates of gas have been revised to reflect higher volumes than previously thought. The former range for the Marcellus shale was 30 to 50 Bcf per square mile. This new analysis suggests a revision in the upper range of those estimates to 60 Bcf per square mile. The Company is working in conjunction with Jefferies, Randall and Dewey, a division of Jefferies & Company, in seeking an industry partner to develop its 130,000 acreage (200 square miles) position for both the Marcellus and Utica shales. “As Norse continues to access scientific data and improve its understanding of our region of interest, the potential of significant production from multiple strata appears more and more promising,” comments Norse CEO Oivind Risberg.

For further information please contact:
Anders Kapstad, CFO
Cell: +47 918 17 442
E-mail: akapstad@norseenergy.com

S. Dennis Holbrook, U.S. Investor Relations
Tel.: + 1 (716) 568-2048
Email: dholbrook@norseenergy.com