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Mandatory notification of trade

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25 April 2013

Reference is made to the stock exchange release made by Norse Energy Corp. ASA (the “Company”) on 25 April 2013 regarding the Company’s resolution to issue a convertible loan (the “Convertible Loan”).

On 25 April 2013, board member and primary insider Bjarte Bruheim subscribed for NOK 1,500,000 in the Convertible Loan. Assuming full conversion at a conversion price of NOK 0.075, this represents 20,000,000 shares in the Company.

Following subscription of the Convertible Loan, Bjarte Bruheim holds, directly and indirectly, 1,200,000 shares, 0 options and the NOK 1,500,000 convertible loan as set out above, in the Company.