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From: pmaca1	1/26/2006 8:26:59 AM
	of 37387

NEC - private placement Press release from Norse Enery Corp. ASA 26.01.2006 Norse Energy Corp ASA (NEC) decided to issue 32,000,000 new shares presented on a book built by Pareto Securities ASA after closing of the stock exchange on 25 January 2006. The private placement consisted of 32 million new shares,at a subscription price of NOK 3.90, with a par value of NOK 0.88 per share, representing approx. 9.8% of the registered share capital. The placement, directed towards professional and institutional investors, was oversubscribed. The placement was conducted by the Board on the basis of the authority granted to the Board in the Ordinary General Meeting in 2005. The placement raised NOK 124.8 million to the Group, which will be used to finance the Group`s investment program. After this private placement the outstanding number of shares in NEC are 352,664,530 shares.

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