US Hedging Transaction

Norse Energy Corp. ASA (“NEC” ticker code OSE – NEC, Oslo, Norway, U.S OTC symbol “NSEEY”) has sold forward through a hedging transaction approximately 1.3 Bcf of natural gas in US at an average price of $5.495 from May 2010 through December 31, 2013. This comes in addition to a volume of approximately 1.7 Bcf previously hedged. The weighted average selling prices and volumes currently hedged for the periods from May 2010 through December 31, 2013 are: Price and Volume 2010 6.855 USD/MMBtu 900,104 Mcf 2011 5.730 USD/MMBtu 936,303 Mcf 2012 5.569 USD/MMBtu 672,696 Mcf 2013 5.495 USD/MMBtu 513,779 Mcf Norse periodically sells forward its natural gas production from existing wells. For further information please contact: Jonas Gamre, Investor Relations Cell: +47 971 18 292 Email: jgamre@norseenergy.com Richard Boughrum, Chief Financial Officer Tel.: + 1 (716) 568-2048 Email: rboughrum@norseenergy.com