01/13/2012
January 13, 2012
Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange,
Norway; "NSEEY" ticker U.S. OTC) announces that the New York
Department of Environmental Conservation (DEC) has concluded
the public comment period of the Supplemental Generic
Environmental Impact Statement (SGEIS) process. The DEC will
now review the over 20,000 comments that have been submitted
before releasing the final SGEIS and associated regulations.
Norse expects the DEC will complete the SGEIS update and
commence issuing permits for high volume hydraulic fracturing
near mid-year 2012.
"Conclusion of the SGEIS public comment period has been long
awaited and is most welcome. It marks a significant
progression toward the commencement of well permitting to tap
New York's abundant shale potential," commented Norse CEO
Mark Dice. "Norse places a high priority on safety and
protection of the environment. We remain supportive of the
careful, SGEIS review process that has been conducted by the
DEC," concluded Dice.
The Company has a significant land position of approximately
160,000 net acres in New York State of which approximately
110,000 net acres are in the Marcellus and Utica shale
fairway in Central NY. This press release is a disclosure
under the Norwegian Securities Trading Act Section 5-2 and
the applicable listing rules of the Oslo Stock Exchange.
For further information, please
contact:
J. Chris Steinhauser, Chief Financial Officer
Phone: +1 716 568-2048 Email:
csteinhauser@norseenergy.com
S. Dennis Holbrook, Chief Legal
Officer
Cell: +1 716 713-2489 Email: dholbrook@norseenergy.com
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