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Buyback of Bonds

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On  02, September 2011, Petrolia ASA bought back NOK 30 000 000 of outstanding bond at 89% + accured interest.

Following the completion of the buy back NOK 344.5 million of Bonds remain outstanding.

The Bonds are listed at Oslo ABM with ISIN number NO 0010440258.

Bergen/Oslo, 05. September 2011

Contactpersons: Mr. Kjetil Forland - Managing Director, e-mail:kjetil.forland@petrolia.no
                             Mr. Sølve Nilsen - Finance Manager, e-mail: solve.nilsen@petrolia.no

This information is subject of the disclosure requirements acc. to § 5-12 vphl (Norwegian Securities Trading Act)