Notice of extraordinary general meeting

Oslo, December 21, 2009: Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) is pleased to invite the shareholders in the Company to attend an Extraordinary General Meeting (EGM) to vote on the previously announced plan for the demerger of Norse Energy Corp. ASA. The EGM is scheduled be held on January 25th, 2010 at 15:00 Oslo time at the offices of Wiersholm law firm in Ruseløkkveien 26, Oslo, Norway. In summary, the demerger plan outlines that the Brazilian assets will be demerged from Norse Energy Corp. ASA into a newly established Norwegian company (“New Brazil Holding ASA”), with the share capital split 40% to New Brazil Holding ASA and 60% to Norse Energy Corp. ASA. Bond debt will be distributed according to the previously announced debt restructuring plan. On the agenda for the EGM is: 1. Opening of the general meeting by the chairman of the board 2. Presentation of list of attending shareholders and proxies 3. Election of chairperson and person to countersign the minutes 4. Approval of the notice and the proposed agenda 5. Proposal of capital reduction with transfer to free equity 6. Proposal for demerger of the company – presentation of the demerger plan and further strategy 7. Proposal for issue of warrants in connection with bond restructuring 8. Amendments to the articles of association 9. Miscellaneous Please find enclosed notice of EGM, demerger plan, proposed resolutions, warrant agreement, articles of association including proposed amendments, and registration/proxy form. The enclosures will also be available on the Company’s webpage www.norseenergy.com For further information please contact: Anders Kapstad, CFO Tel: +47 23 01 10 01 Cell: +47 918 17 442 Email: akapstad@norseenergy.com Jonas Gamre, Investor Relations Tel: +47 23 01 10 02 Cell: +47 971 18 292 Email: jgamre@norseenergy.com