Notification of trade

Reference is made to notification of 24 September 2008 where Øivind Risberg, CEO in Norse Energy Corp ASA, through his wholly owned company Solodden AS entered into a forward contract for 5,200,000 shares in Norse Energy Corp ASA with maturity date 26 March 2009 at strike NOK 4.89. Solodden AS has today entered into an early exercise agreement resulting in the exercise of 2,542,500 at a strike price of NOK 4.771 per share on 18 November 2008.

The forward contract notified on 24 September 2008 remains on the terms announced in respect of the remaining 2,657,500 shares in Norse Energy Corp ASA.

Mr. Risberg controls personally and through his wholly owned companies Solodden AS and Viksund AS 19,811,894 shares, 1,445,218 warrants and 4,000,000 options.

Contact info.:
Oivind Risberg, CEO
Phone.: +47 67 51 61 10 /952 00 642