Update on Petrolia Bonds

Petrolia SE has purchased 30,500,000 bonds in its bond loan ISIN: NO0010683592 “PDR05 PRO”.

Consideration is 55% of par value + accrued interests, total NOK 17,720,165.

Following the transaction the status of the Petrolia bonds is:

Ticker: PDR 04 PRO PDR 05 PRO Total
ISIN: NO 001044025.8 NO 001068359.2
Outstanding bonds 47,374,998 288,550,002 335,925,000
Borrower’s bonds 24,499,998 154,603,983 179,103,981
Net 22,875,000 133,946,019 156,821,019
Matures 19 June 2015 20 June 2017

Limassol/Bergen, 26 March 2015

Contact:

Sølve Nilsen

Finance manager

Phone: +47 951 79 269

E-mail: solve.nilsen@petrolia.no

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.

About Us

Oil & Gas division: Petrolia Norway AS maximizes field potential through innovative exploration and increased oil recovery technology from mature areas on the Norwegian Continental Shelf, leveraging on the extensive industry experience of the Petrolia Norway team. Petrolia Norway AS is qualified as a licensee for the Norwegian Continental Shelf. The company currently holds 50 per cent of the PL674 license, 30 per cent of PL 506S, PL 506BS, PL 506CS and PL 506DS and 10 per cent of PL 628. The company is wholly owned by Petrolia SE and has offices in Bergen, Stavanger and Oslo. Through Petroresources Ltd (47.24 per cent owned) the division has economic interests in licenses in Africa and the Middle East. OilService division: The company´s involvement in oilfield services began through the acquisition of Independent Oil Tools AS in 2007. Total investment in equipment has subsequently exceeded USD 200 million. The investments were largely financed by Petrolia and in addition financial leases of more than USD 40 million were obtained. The division has developed into a leading international equipment rental group with a global presence. This division owns drill pipes, test strings & tubing, handling & auxiliary tools and other equipment. In addition, the division provides associated services like tubular running services through Premium Casing Services Pty Ltd in Australia and New Zealand. The OilService division benefits from an excellent track record of availability, technical compliance, experience and performance. It has a well-established, large, international client base, including a portfolio of contracts in place with numerous major oil service companies, oil companies and drilling contractors. Drilling and Well Technology division: In 2012, a subsidiary of Petrolia SE acquired two land rigs which are presently located in Romania. The drilling rig has completed 18 wells since it commenced a one and a half year contract in Romania. The contract is with a large oil company and is to be completed by the end of this year. The rig has proven to be efficient in line with expectations for the drilling activities, as well as fast and efficient mobilisation and demobilisation between wells. The rig is currently being marketed to a certain number of potential customers within Europe and other commercially attractive areas. The work-over land rig is being marketed and will be mobilised once a LOI is signed. Both rigs are managed by TM Drill, a Romanian land drilling contractor, in which Petrolia has a 19.66% interest. The division has started to build in-house competence within land drilling activities and has employed a number of skilled employees to be able to expand within this segment.

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