Increase Share Capital

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) Reference is made to the stock exchange notice dated January 12, 2010 regarding the completed private placement in Norse Energy Corporation ("NEC"). The capital increase in connection with the private placement of NOK 62.117.647, from NOK 341.863.263 to NOK 403.980.910, has as of February 11, 2010 been registered in the Register of Business Enterprises (“Foretaksregisteret”). Following the private placement, NEC has a share capital of NOK 403.980.910 divided into 459.069.216 shares, each with a nominal value of NOK 0.88. Each share carries right to one vote at the Company's general meetings. The updated company certificate is enclosed. For further information please contact: Anders Kapstad, CFO Tel: +47 23 01 10 01 Cell: +47 918 17 442 Email: akapstad@norseenergy.com Jonas Gamre, Investor Relations Tel: +47 23 01 10 02 Cell: +47 971 18 292 Email: jgamre@norseenergy.com