New Strike Price for NEC Warrants

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Reference is made to announcements to the Oslo Stock Exchange on 7 December and 21 December 2009, and to the therein described issue of new 55.4 million warrants in NEC in connection with the restructuring of the company’s bond debt. The strike price for the warrants has been adjusted to NOK 2.21.

 For further information regarding Norse Energy ASA, see

www.norseenergy.com (http://www.norseenergy.com/)

For further information, please contact:

Richard Boughrum, Chief Financial Officer

Cell: +1 714 520 1702

Email: rboughrum@norseenergy.com (rboughrum@norseenergy.com)