Norse Energy Restructuring Update

20 June 2013

Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway) announces the appointment of divestiture advisor The Oil & Gas Clearinghouse (“OGC”) of Houston, Texas to broker the sale of some of the Company’s oil and gas assets. The anticipated asset sales are part of the Company’s ongoing plan of restructuring.

“The appointment of OGC with their extensive oil and gas industry contacts and asset sales experience is expected to significantly enhance Norse’s restructuring efforts”, commented Norse CEO Mark Dice.

Dice plans to attend Norse’s Annual General Meeting (“AGM”) on 21 June 2013 at 11AM at the offices of law firm Schjodt, Ruselokkveien 14, 0201 Oslo. He will be available to meet shareholders and answer questions at the time of the shareholder meeting.

The Company has a significant land position of ~130,000 net acres in New York State with certified 2C contingent resources of 951 MMBOE as of 31 December 2012.

For further information, please contact:

Chris Steinhauser, Chief Financial Officer
csteinhauser@norseenergy.com
Office: +1 713 975 1900

S. Dennis Holbrook, Chief Legal Officer
dholbrook@norseenergy.com
Office: +1 716 568 2048