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Disclosure of major shareholding

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Independent Oil & Resources ASA has today, Thursday 7th June 2012, sold 37.000.000 shares in Petrolia ASA. 

Following the transaction Independent Oil & Resources ASA holds 148.609.392 shares in Petrolia ASA,

equal to 49.2% of all issued shares in Petrolia ASA.

Bergen/Stavanger, 07 June 2012

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