OTHER ANNOUNCEMENT

Mon, Oct 13, 2008 09:14 CET

Independent Oil & Resources ASA has on the 10th October taken delivery of 3.300.000 shares in Petrojack ASA.
After this transaction Independent Oil & Resources ASA controls 11.566.328 shares in Petrojack ASA, including
a forward contract of 3.000.000 shares with delivery 27.11.2008 , equal to 17.8 per cent of the shares outstanding.

Bergen/Oslo, 13 October 2008.