CONDITIONAL OFFER (MOU) FOR PETRORIG I FROM AN INTERNATIONAL DRILLING CONTRACTOR.

Fri, Mar 27, 2009 08:15 CET

Petrorig I Pte Ltd a company 100% controlled by Petromena ASA, has signed a Memorandum of Understanding with an international drilling contractor for the sale of the drilling rig Petrorig I for Usd 450 mill.

Petrolia Drilling ASA owns 51,47 % of the shares outstanding in PetroMENA ASA

Bergen/ Oslo 22 March 2009-03-27

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