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NORSE ANNOUNCES RATIO CHANGE FOR TRADING OF ITS ORDINARY SHARES “DEPOSITORY RECEIPTS” ON THE U.S. OTCQX

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14 June 2012

Norse Energy Corp. ASA (“NEC” ticker Oslo Stock Exchange, Norway; “NSEEY” ticker U.S. OTC) announces a change in the number of ordinary Norse shares underlying the American Depository Receipts (“ADR”) traded on the OTCQX market. This change will be effective 15 June 2012. Norse Energy announced a reverse stock split that for every 10 existing shares with par value NOK0.36883488 will be consolidated into 1 share with par value of NOK3.6883488.

As a result of the 1 for 10 reverse stock split on the ordinary shares, a ratio change on the DR program will take place.

Effective June 15, 2012 the ratio of one (1) ADR representing ten (10) ordinary shares will change to one (1) ADR representing one (1) ordinary share. Existing ADR certificates will assume the new parameters. Holders need take no further action.

Name: Norse Energy

CUSIP #:         65651Q107                 

Ticker #:           NSEEY                

OLD Ratio:     1 ADR: 10 Ordinary shares               

NEW Ratio:    1 ADR: 1 Ordinary share

For further information, please contact:
J. Chris Steinhauser, Chief Financial Officer
Phone: +1 716 568-2048 Email: csteinhauser@norseenergy.com

S. Dennis Holbrook, Chief Legal Officer
Cell: +1 716 713-2489 Email: dholbrook@norseenergy.com

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