Preliminary Merger Information Memorandum

Norse Energy Corp. ASA “NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) informs that the Information Memorandum (“IM”) regarding the proposed merger of New Brazil Holding and Pan Petroleum has due to capacity issues at the Oslo Stock Exchange (“OSE”) not yet been finally approved by OSE. However, the Company has in understanding with OSE decided to release the preliminary IM before the Extraordinary General Meeting takes place Monday April 26, 2010. The Company believes that the IM contains information the shareholders should have access to before they vote in the EGM. Please find the preliminary Information Memorandum enclosed. The final IM is expected to be approved by OSE shortly after the EGM and will be released then. Reference is made to the press release dated March 15, 2010 describing the Board of Directors’ merger proposal. The Extraordinary General Meeting to vote on the proposed merger will be held Monday, April 26, 2010. 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