Norse Energy Corp ASA refers to its announced intention to sell its Medina assets in New York and Pennsylvania. Norse has completed the closing of the sale of the Medina properties for USD 67 million. At December 31, 2007 the properties were producing 4,773 Mcf per day(gross) and 3,920 Mcf per day net to its interest.
At the time of closing, approximately USD 2.1 million of properties were not conveyed as title defects remained uncured. Norse and EnerVest have agreed to an extension of 120 days to to clear as many as possible of the remaining items. The effective date of this transaction was January 1, 2008, as previously announced.
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