Q4 production update for Brazilian subsidiary

Report this content

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTCQX symbol “NSEEY”) is pleased to announce production volumes for its Brazilian subsidiary in Q4 2009. Natural gas production from the Manati field (Norse Energy do Brasil 10% working interest) averaged 5.85 MMm3/day (3,678 boe/day net to Norse) in the fourth quarter 2009. This represents an increase of approximately 7% compared to the third quarter 2009. Reported sales volumes in our financial statements will be adjusted for retainage (usage, line loss and stripping of condensate) which has historically been approximately 6% below produced volumes. On December 13th, production from the field reached an all time high with 7.71 MMm3/day (4,849 boe/day net to Norse). For further information please contact: Jonas Gamre, Investor Relations Phone: +47 23 01 10 02 Cell: +47 97 11 82 92 E-mail: jgamre@norseenergy.com