Norse U.S. Subsidiary Receives Extension of Exclusivity Period to File Plan of Reorganization

22 July 2013

Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway) announces that the U.S. Bankruptcy Court has granted an extension to its US subsidiary, Norse Energy Corp. USA (“NEC USA”), of the time by which it has the exclusive right to file a plan of reorganization to October 22, 2013.

It is expected that the extension will allow NEC USA to complete its planned oil and gas asset sale process.  As previously announced, the anticipated asset sales are part of the Company's ongoing plan of restructuring.

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