Petrojack ASA-Summons to bondholders’ meeting

Reference is made to previous announcements regarding Petrojack ASA's (ticker: JACK) ("Petrojack") discussions with its bondholders regarding a restructuring of its bond loans, most recently its announcement of 18 December 2009. Upon the request of a majority of the bondholders in Petrojack’s first lien bond loan referred to as “US$200,000,000 Senior Secured Open Bond Issue 2006/2012” (ISIN NO 001031832.2), the trustee for the loan, Norsk Tillitsmann ASA, has summoned a meeting of the bondholders to be held on 1 February 2010. The meeting has been summoned to seek approval from the bondholders to engage legal and financial advisers to Norsk Tillitsmann ASA and to ensure the funding of the cost to such advisers. A copy of Norsk Tillitsmann ASA's summons is attached.