Presentation of the merger between New Brazil Holding and Pan Petroleum

New Brazil Holding ASA (“NBH”), a company controlled by Norse Energy Corp. ASA (“NEC”), and Pan-Petroleum (Holding) Cyprus Ltd. (“Pan-Petroleum”) have entered into a business combination agreement. An analyst and investor presentation of the merger will be held today, Tuesday March 16, 2010 at 08:30 CET at Shippingklubben in Haakon VIIs gate in Oslo. The presentation will also be webcasted live, and can be accessed via www.norseenergy.com. Please find the presentation enclosed. For further information: Anders Kapstad, CFO Norse Energy Corp. ASA Cell: +47 91 81 74 42 Email: akapstad@norseenergy.com