Norse Energy Corp (10%), in partnership with Petrobras (35%, Operator) and Queiroz Galvão Oil & Gas (55%), is pleased to announce the preliminary production result for January for the Manati gas field. Production commenced ramp-up on two wells on January 15th. Production for the month totaled approximately 29 million m3 of wet gas, net of retained gas. After a ramp-up period, production so far has been stable at approximately 1.8 million m3 per day, with highs above 1.9 million m3. Deliverability from these wells exceeds actual production, which is aligned with the ramp up of supplying the regional demand. Liquids in the gas stream are being extracted at the Sao Fransisco plant. The condensate has an API of high 50 degrees. The condensate is currently produced to tanks, and will be sold in USD at a Brent price reference when volumes allow. The dry gas is sold to Petrobras in local denominated currency. Well # 3 is under final tie-in, and is expected to come on stream during February 2007. Well # 4 is currently under completion, and is expected to be ready for production late in the quarter. Well #5 has reached the top of the Sergi reservoir, and indicates a higher gross pay than any of the previous wells. Log date will become available during February. Overall, production capacity is expected to be gradually increased to 6.0 million m3 per day, according to estimates provided by the operator. Actual production will be aligned with local gas demand. For further information please do not hesitate to contact: Contact person: Anders Kapstad Phone: +47 67 51 61 12 Cell: +47 918 17 442 Website: www.norseenergy.com