Norwegian uses the same alphabet that Americans use except for the following special characters (letters):

"Pensgard" contains one of these unusual characters... the last one listed above. It is called "A-Ring". So, "Pensgard" is not technically the correct spelling of the name. It is correctly spelled with an A-Ring as the 6th letter.

Sometimes, the "GARD" ending is spelled with two A's in a row "GAARD" when Scandinavian names are transliterated into English. This signals that an A-Ring is in the original word.

A-Ring
This letter can be pronounced two ways, as a long or short vowel. A very clear distinction is made between long and short vowels in Norwegian; long vowels should be very, very long, and short vowels are quite clipped. 

When a word ends with "rd", the preceding vowel is lengthened, and the d is not pronounced. For example - JORD" (WAVE format) (This word means "earth"; click the link to hear it pronounced by a native Norwegian).

So, the A-Ring in "Pensgard" is a very long vowel. It sounds like the "O" in "VOTE"... but you hold it for longer.

"S"
Another letter that may give us some trouble is the "S". It should be pronounced like an "S" not a "Z".

"R"
R's are rolled in Norwegian. However, in combination with "D" at the end of a word, the "R" is only rolled once... not repeatedly. So, since the "D" is silent, the resulting sound is something like "oooh-rth". This is not a normal sound for English speakers to make.

Putting It All Together

The first three letters are pronounced normally.	"PEN"
The "S" is pronounced like an "S" in English.	"PENCE"
The "G" is pronounced normally.	"PENCE-G"
The A-Ring is pronounced like an English "O"; a very long vowel.	"PENCE-GOHHH"
The "R" is slightly rolled once; the "D" is silent.	"PENCE-GOHHHR"

Listen to me pronounce "Pensgard" several times in a row in this recording:
Pronounce "Pensgard" (MP3 format) (WAVE format)