June 12, 2012
Norse Energy Corp. ASA ("NEC” ticker Oslo Stock Exchange, Norway;
"NSEEY” ticker U.S. OTC) announces the resignation of Norse Board Member
Øivind Risberg. Mr. Risberg was elected as a Director of Norse in
November 2011. Mr. Risberg is the former CEO of Norse Energy and is
presently CEO and part owner of EmKey Energy.
EmKey Energy and its affiliates recently purchased gas production,
transportation facilities and pipeline rights of way from Norse. In
connection with the transaction, EmKey and Norse have agreed to a mutual
area of interest for joint development. Further, EmKey has committed to
provide a pipeline facility for firm transportation services to Norse of
90,000 Mcf per day, once Norse so nominates.
While the parties expect to work cooperatively in these new
relationships, there is the potential for the respective interests of
Norse and EmKey to be competing. For these reasons, Mr. Risberg
determined it would be in the best interest of both companies that he
resigns from Norse’s board of directors.
"Norse appreciates the potential challenges in representing the
interests of both EmKey and Norse and therefore accepts the resignation
of Øivind Risberg,” commented Norse Chairman Cecilie Amdahl. "Øivind has
been a tremendous advocate on behalf of Norse Energy. We look forward to
a strong working relationship with Øivind in these new endeavors and
wish him well in his stewardship of EmKey,” concluded Amdahl.
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