Call for Extraordinary General Meeting (EGM) in Rocksource ASA

Reference is made to the sale by Rocksource ASA of most of their important licenses on the Norwegian Continental Shelf (stock notice dated 19 march 2012).

As reasoning Rocksource CEO is quoted “we are convinced that this is the best solution for our shareholders.”

Petrolia ASA through its subsidiaries is the largest shareholder (holding more than 10%) in Rocksource and was not advised about the transaction.

As a general corporate governance principle, significant transactions and major strategy changes shall be advised to shareholders and approved by all shareholders in an EGM as soon as possible, alternatively in an AGM when it as near as 22 May 2012.

In accordance with the Security Act § 5-7, Petrolia owning more than 1/20 of the shares through its subsidiaries is entitled to demand an EGM to resolve on this matter to be held within one month after the call to approve of such transaction, and is hereby sending a requirement for such an EGM to be held .

The Board of Directors are obliged not to approve nor carry out sale of major parts of the company`s assets before the EGM has resolved on the transaction.