First contract to new land drilling rig

References made to previous stock notices, regarding the rig merger with the issue of new Petrolia ASA shares as payment for 2 new land rigs.

The first drilling contract has now been entered into between a large oil company in Romania and our Romanian rig manager. The duration of the contract is for 16 wells, approx. until the end of December of 2013. The contract has been obtained on satisfactorily terms and conditions in line with prevailing market rates for land drilling rigs. Scheduled work is anticipated to start mid-June this year.

This activity is part of Petrolia’s Drilling & Well Technology division.

For further information please contact Managing Director Kjetil Forland, e-mail Kjetil.forland@petrolia.no

Bergen/Oslo, 06 June 2012.

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