STATUS PETROJACK ASA

Reference is made to previous announcements (e.g. on 27 November 2009 in conjunction with preliminary Q3 reporting) relating to Petrojack ASA's discussions with its bondholders regarding a restructuring of its bond loans. Petrojack ASA has today received a letter from Norsk Tillitsmann ASA (NTM) on behalf of the first lien bondholders in the FRN Petrojack ASA USD Senior Secured Open Bond Issue 2006/2012 with Call Option ISIN NO 001 031832.2. The letter is attached to this announcement. For further information : please contact : Chairman of the Board Erik Solheim - erik.solheim@vogtwiig.no. Bergen/Oslo, 11 December 2009