Norse Sells Medina Field to EnerVest, et al

Medina Field
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Norse Energy Corp ASA refers to its announced intention to sell its Medina Field assets in New York and Pennsylvania (see press release dated November 6, 2007).

Norse Energy has entered into a Purchase and Sale Agreement with EnerVest, Ltd. and certain of its affiliated parties to sell all its Medina Field assets for a consideration of USD 67 million.

The transaction is subject to due diligence with closing of the transaction anticipated in March 2008. The effective date of this transaction will be January 1, 2008.


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