Norse Energy Corp. ASA has filed for bankruptcy

Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway) announces that the Board of Directors today has filed for bankruptcy with Oslo Bankruptcy Court. As of today there are no operations or other ongoing business in the company. The company's financial problems is related to the continued delay of permits to develop the company's assets and escalated when the NEC USA and its US parent, Norse Energy Holdings, Inc. (NEHI), converted to Chapter 7 liquidations as previously announced. Negotiations for restructuring has not been successful. The company has pursued solutions to regain the assets and uphold the future potential for the company's shareholders and other stakeholders. The liquidity situation for the company and the uncertainty due to further delays did not allow for further efforts to search for solutions.