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Norse Energy pipeline update.

http://www.newsweb.no/newsweb/search.do?messageId=274024

Norse Energy to Sell Selected Midstream Assets

Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway;
"NSEEY" ticker U.S. OTC) announces that it has signed a Letter of Intent
to sell certain of its midstream assets to Appalachian Transmission and
Marketing LLC ("Appalachian"). The midstream assets consist of the
Company's Norse Pipeline, LLC, Nornew Energy Supply, Inc. and
Mid-American Natural Resources, LLC.

The Letter of Intent is not a binding contract. It is subject to
agreement on final contract terms, additional due diligence, regulatory
approval and Company board approval. The Company can give no assurance
that a final contract will be reached with Appalachian. At such time as
a definitive agreement is reached with Appalachian, the details of the
transaction will be announced.

Appalachian Transmission and Marketing is a company formed by Øivind
Risberg who is the former Chief Executive Officer of Norse Energy.

"This potential transaction is consistent with our previously announced
strategy of divesting non-core assets, on favorable terms, to
concentrate on our core exploration and production business," according
to Mark Dice, Chief Executive Officer."

Norse Energy has total contingent resources of ~4 TCF (~713 MMBOE) at
the end of 2009. The Company has a significant land position of 180,000
net acres in New York State. The Company also owns a natural gas
marketing business and operates pipeline systems in New York and
Pennsylvania for gathering and transmission of natural gas.