Norse Energy Announces Resolution to Increase Capital in Connection with Conversion of Bonds

17 February 2012

Reference is made to the resolutions of the extraordinary general assembly on 22 November 2011. 

The Board of Directors of Norse Energy Corp. ASA (“NEC” ticker Oslo Stock Exchange, Norway; “NSEEY” ticker U.S. OTC) resolved on 16 February 2012 to increase the company's share capital by NOK 99,292,534.30 by issuing 269,205,923 new shares, each with face value NOK 0.36883488. 

The capital increase is made in connection with the conversion of bonds as announced on 30 January 2012. 

Contact: J. Chris Steinhauser, CFO and EVP-M&A at (+1) 925-286-2819 or csteinhauser@norseenergy.com  

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.