Notification of trades

The following primary insiders have on March 24, 2010 made the following transactions in Norse Energy Corp ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”). Øivind Risberg Viksund AS, a wholly owned company by CEO Øivind Risberg bought 50,000 shares at an average price of NOK 4.162 per share. After this transaction, Viksund AS controls 8,100,500 shares in Norse Energy Corp ASA. After this transaction, CEO Øivind Risberg and close associates control 14,661,894 shares, 1,445,218 warrants and 4,000,000 options in Norse Energy Corp ASA. Kjetil Solbrække Kjetil Solbrække, CEO Norse Energy do Brasil, bought 25,000 shares in Norse Energy Corp. ASA at an average price of NOK 4.1149 per share. After this transaction, Kjetil Solbrække controls 25,000 shares in Norse Energy Corp. ASA Furthermore, Kjetil Solbrække was allocated NOK 1,754 880 worth of shares in the private placement for the contemplated merger between New Brazil Holding and Pan Petroleum. Mark Dice Mark Dice, President and Chief Operating Officer Norse Energy Corp. USA bought 50,000 shares at an average price of NOK 4.20 per share. After this transaction, Mark Dice controls 450,000 shares and 2,500,000 options in Norse Energy Corp. ASA. Richard Boughrum Richard Boughrum, Chief Financial Officer Norse Energy Corp. USA bought 10,000 shares in Norse Energy Corp. ASA at an average price of NOK 4.20 per share. After this transaction, Richard Boughrum controls 20,000 shares and 1,000,000 options in Norse Energy Corp. ASA. Stuart Loewenstein Stuart Loewenstein, EVP Exploration and Development Norse Energy Corp. USA bought 10,000 shares in Norse Energy Corp. ASA at an average price of NOK 4.1149 per share. After this transaction, Stuart Loewenstein controls 371,556 shares and 600,000 options in Norse Energy Corp. ASA Larry Swanson Larry Swanson, Director Pipeline Norse Energy Corp. USA bought 17,600 shares in Norse Energy Corp. ASA at an average price of NOK 4.1149 per share. After this transaction, Larry Swanson controls 17,600 shares and 175,000 options in Norse Energy Corp. ASA. For further information, please contact: Anders Kapstad, Chief Financial Officer Phone: +47 23 01 10 01 Cell: +47 918 17 442 E-mail: akapstad@norseenergy.com Jonas Gamre, Investor Relations Phone: +47 23 01 10 02 Cell: +47 971 18 292 Email: jgamre@norseenergy.com