LYSAKER, Norway--(BUSINESS WIRE)--Regulatory News:
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.
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