Hydrocarbon indication on Cravo Prospect (BCAM-40)

Norse Energy Corp. ASA ("NEC" ticker code OSE - NEC, Oslo, Norway, U.S OTC symbol "NSEEF"), in partnership with Petrobras (Operator), Queiroz Galvão Oil & Gas and Brasoil, announce that the operator (Petrobras) has notified the Brazilian Regulatory Agency (ANP) about hydrocarbon indications on the Cravo exploration well drilling currently underway in BCAM-40. According to the Brazilian legislation for oil and gas exploration, the operator is obliged to inform the Brazilian Regulatory Agency (ANP) about any hydrocarbon shows when indication can be confirmed through two different methods.

The Cravo prospect is located at 270 meters of water depth, 18 km northeast of the Manati production platform, and the well was spudded in January 6th. Below 1581 meters of depth, the well drilled through several intervals with hydrocarbon shows on the cuttings and gas anomalies on the gas detector. After logging, the 1579/1588 interval identified gas saturation. The drilling will continue with a 13 3/8'' casing, with the main target at the Sergi formation, at 4,070 meters of depth.

Norse Energy Corp ASA wants to emphasize that it is too early to anticipate the results of the well, as drilling is still ongoing.


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