Private Placement Approved by Extraordinary General Meeting

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) informs that an Extraordinary General Meeting (EGM) in Norse Energy Corp. ASA was held today. All proposals from the Board of Directors to the EGM were approved, including the NOK 300 million private placement and an authorization to the Board of Directors to conduct a subsequent repair issue. Please refer to stock exchange notice dated 12 January 2010. The Board of Directors plans to execute a subsequent repair issue for up to 14,117,647 shares at NOK 4.25 per share, directed to existing shareholders per 11 January 2010 not invited to participate in the private placement. A prospectus for listing of shares issued in the private placement and shares offered in the repair issue is expected to be approved on or about 12 February 2010. The repair issue is planned executed as soon as possible following the approval of the prospectus. Please find attached the minutes and appendices from the EGM. 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