One week extended subscription period for Repair Issue

Norse Energy Corp ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”). Reference is made to the stock exchange notices on 26 February 2010 and 1 March 2010 concerning the Letter of Intent ("LOI") and exclusivity agreement to acquire substantially all assets of Strategic Petroleum Investment Consultants Enterprise Inc, Paris Oil & Gas Corporation and Eleon Operators LLC (collectively referred to as "Spice/Paris"), and to the stock exchange notice of 15 February 2010 concerning the Repair Issue in NEC with subscription period to 8 March 2010. Based on the above, the Board of Directors of NEC has decided to extend the subscription period for the Repair Issue for one week to 15 March 2010, and to issue an Additional Prospectus with information on the Spice/Paris transaction and the Q4 figures within one week prior to 15 March, 2010. Shareholders having subscribed for shares in the Repair Issue may cancel their subscription within two days of such publication as further provided for in the Securities Trading Act Section 7-21. 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