Help Reading a Birth Record

http://www.arkivverket.no/URN:NBN:no-a1450-kb20070115650329.jpg (don't forget to click image to enlarge) Between 48 and 49 is Peder Olsen born 27 Mar 1878. Was he born out of wedlock and I can see that his parents are Ole ? and Mari Pedersdatter. Can someone please tell me what the whole thing says for the parents only? I can't tell what the words are. Thank you so much! [:)]