Petrobras to Test Copaiba Well's Hydrocarbon Zones

Norse Energy Corp. ASA, in partnership with Petrobras (Operator), Queiroz Galvao Oil & Gas and El Paso, announced that the Copaiba well will be cased and tested to investigate zones with hydrocarbons shows. This operation will start after the final logging of the well.

Norse Energy holds an 18.33% ownership in this block.

Norse also announced that its subsidiary Norse do Brasil has signed a contract with Unibanco/Santander for a loan of 40 million Reais (approximately US $21.5 million). The funds will be used for execution of Norse do Brazil's production development and exploration activities.