Norse Energy Corp ADR (NSEEY)

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Norse Energy Corp ASA: Norse Announces Resignation of Director

http://ih.advfn.com/p.php?pid=nmona&article=52730976&symbol=NSEEY

Norse Energy Corp. ASA (“NEC” ticker Oslo Stock Exchange, Norway;

“NSEEY” ticker U.S. OTC) announces the resignation of Norse Board Member Øivind Risberg. Mr. Risberg was elected as a Director of Norse in November 2011. Mr. Risberg is the former CEO of Norse Energy and is presently CEO and part owner of EmKey Energy.

EmKey Energy and its affiliates recently purchased gas production, transportation facilities and pipeline rights of way from Norse. In connection with the transaction, EmKey and Norse have agreed to a mutual area of interest for joint development. Further, EmKey has committed to provide a pipeline facility for firm transportation services to Norse of 90,000 Mcf per day, once Norse so nominates.

While the parties expect to work cooperatively in these new relationships, there is the potential for the respective interests of Norse and EmKey to be competing. For these reasons, Mr. Risberg determined it would be in the best interest of both companies that he resigns from Norse’s board of directors.

“Norse appreciates the potential challenges in representing the interests of both EmKey and Norse and therefore accepts the resignation of Øivind Risberg,” commented Norse Chairman Cecilie Amdahl. “Øivind has been a tremendous advocate on behalf of Norse Energy. We look forward to a strong working relationship with Øivind in these new endeavors and wish him well in his stewardship of EmKey,” concluded Amdahl.

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IMO and FWIW