Norse Energy Announces New Herkimer Joint Venture with Bradford Energy Capital

December 22, 2010

Norse Energy Corp. ASA (“NEC” ticker Oslo Stock Exchange, Norway; “NSEEY” ticker U.S. OTC) is pleased to announce a second Herkimer joint venture drilling program with Bradford Drilling Associates XXIX, L. P.  (“BDA-29”).  BDA-29 is managed by Bradford Energy Capital, LLC, which, with its affiliates, has sponsored 31 drilling partnerships and participated in over 1,800 oil and gas well since 1994.  Most of Bradford’s wells are located in the Appalachian Basin. 

BDA-29 will have a 25% to 50% working interest in eighteen of the wells in our 2010/2011 Herkimer drilling program.  Funding totaling $9 million has been received from BDA-29 for its proportionate share of these wells.  The well locations were identified utilizing recently acquired 3-D seismic.  Drilling on the first of the eighteen wells has commenced. 

“The addition of a second Herkimer JV drilling partner provides Norse Energy an attractive return on our early investment in central New York and further advances development of our significant acreage position,” commented Norse CEO Mark Dice.  “Accelerated Herkimer development will also benefit many of our leaseholders who will receive royalty payments from Herkimer production wells not requiring  hydraulic fracturing,” concluded Dice.

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

Phone   +1 716 713-2489      

Email: dholbrook@norseenergy.com