Norse Energy Acts to Preserve Acreage Position

Norse Energy Corp. ASA (“NEC” ticker Oslo Stock Exchange, Norway; “NSEEY” ticker U.S. OTC) announces that it has provided a notice of force majeure to landowners covering its leased acres, to preserve any time loss due to outgoing Governor Patterson’s executive order banning to at least Summer 2011, the issuance of permits by the New York State Department of Environmental Conservation for high volume hydraulic fracturing.  Norse’s typical lease allows for the extension of the lease term for a period of time comparable to how long the Company is prevented by governmental action from exercising its lease rights.  The notice provides that Norse intends to continue to pay delay rentals and royalties but that any lost time will be added to the end of the lease term. 

“This notice is designed to preserve our substantial investment in the future shale potential of New York State,” commented Norse CEO Mark Dice.  “In the interim, Norse is fortunate to the extent that we may have other options, such as the Herkimer Sandstone, which do not require high volume hydraulic fracturing,” concluded Dice. The notice further provides that if the Company elects to pursue other economically viable geologic formations, it will advise the landowner accordingly.  

Norse Energy has total contingent resources of ~4 TCF (~713 MMBOE) at the end of 2009. The Company has a significant land position of 180,000 net acres in New York State. The Company also owns a natural gas marketing business and operates pipeline systems in New York and Pennsylvania for gathering and transmission of natural gas.

For further information, please contact:
Richard Boughrum, Chief Financial Officer
Cell: +1 714 520 1702, Email: rboughrum@norseenergy.com

S. Dennis Holbrook, Executive Vice President

Cell: +1 716 713-2489, Email: dholbrook@norseenergy.com