Options granted

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) announces that the Company has granted Rich Vareha, US Chief Accounting Officer, 100,000 options in the Company. The options have an exercise price of NOK 3.86 and can be exercised from December 2, 2011 to December 2, 2014 conditioned on the employee being employed at that time. The options were granted under the authorization given to the Board of Directors from the Annual General Meeting, held on May 19, 2009. 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 97 11 82 92 Email: jgamre@norseenergy.com