Norse Energy US Subsidiary Appoints Chapter 11 Advisor
21 Dec 2012
Norse Energy Corp. ASA ("NEC" ticker Oslo Stock Exchange, Norway;
"NSEEY" ticker U.S. OTC) announces that its US subsidiary, Norse Energy
Corp. USA, has appointed a financial advisor, Next Point LLC, to assist
the company in obtaining Debtor in Possession ("DIP") financing. The
retention of Next Point is subject to approval by the Bankruptcy Court.
Last week the Company announced that the US subsidiary had filed a
voluntary petition for Chapter 11 protection and reorganization under
the United States Bankruptcy Code.
The purpose of the "DIP" financing will be to fund the US subsidiary's
operations. Interested parties may contact the Company or its advisor.
The Company continues to pursue alternatives to secure funding for the
Norwegian parent company, Norse Energy Corp. ASA.
The Company has a significant land position of 130,000 net acres in New
York State with certified 2C contingent resources of 951 MMBOE as of 30
For further information, please contact:
Chris Steinhauser, Chief Financial Officer
Office: +1 713 975 1900
S. Dennis Holbrook, Chief Legal Officer
Office: +1 716 568 2048