Norse Energy Corp ASA: Loan Conversion Notification

Regulatory News:

Norse Energy Corp. ASA ("NEC") has received a notification of conversion of NOK 600,000 of its NOK 7,100,000 convertible loan at a conversion price per share of NOK 0.075, representing issue of a total of 7,999,999 new shares. The conversion will be effected as soon as possible.

The Company has a significant land position of ~130,000 net acres in New York State with certified 2C contingent resources of 951 MMBOE as of 31 December 2012.

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