Norse Energy CFO Ups Stake in Company

La Barra Capital AS, a wholly owned company by Anders Kapstad, CFO in Norse Energy Corp ASA has on November 29, 2007 exercised a forward contract of 200,000 shares at NOK 3.72 and entered into a new six months forward contract of 200,000 shares at NOK 4.24 with maturity date June 2, 2008.

After this transaction Anders Kapstad controls personally and through related companies a total of 206,000 shares.

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