Norse Underscores Petrobras' Hydrocarbon Find at Cravo Prospect

Norse Energy, in partnership with Petrobras (Operator), Queiroz Galvao Oil & Gas and Brasoil, has announced that the operator (Petrobras) has notified the Brazilian Regulatory Agency (ANP) about hydrocarbon indications at the Cravo exploration well drilling currently underway in
BCAM-40. According to the Brazilian legislation for oil and gas exploration, the operator is obliged to inform the Brazilian Regulatory Agency (ANP) about any hydrocarbon shows when indication can be confirmed through two different methods.

The Cravo prospect is located at 270 meters of water depth, 18 km northeast of the Manati production platform, and the well was spudded in
January 6th. Below 1581 meters of depth, the well drilled through several intervals with hydrocarbon shows on the cuttings and gas
anomalies on the gas detector. After logging, the 1579/1588 interval identified gas saturation. The drilling will continue with a 13 3/8"
casing, with the main target at the Sergi formation, at 4,070 meters of depth.

Norse Energy wants to emphasize that it is too early to anticipate the results of the well, as drilling is still ongoing.