Mandatory notification of trade

CEO Øivind Risberg in Norse Energy Corp ASA has on 23.03.2009 through his wholly owned companies Viksund AS and Solodden AS rolled forward 3 600 000 and 2 657 500 forward contracts with maturity date 25-09-09 at strike NOK 4,8821.

Øivind Risberg's overall exposure in Norse Energy Corp ASA remains unchanged after this transaction.

For further information, please contact:

Anders Kapstad, CFO
email: akapstad@norseenergy.com
Phone: +47 67 51 61 12
Cell: +47 918 17 442