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Increase of share capital

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Reference is made to the stock exchange notice of 27. June 2011 regarding the resolution to issue up to 50 629 837 new shares in Petrolia ASA.

The rights issue was oversubscribed and 50 629 837 new shares were allocated by the board of directors on 25. August 2011, ref. stock exchange notice of same date.

The new shares have been fully paid and the share capital increase has been registered in the Norwegian Register of Business Enterprises per 6. September 2011.

Petrolia ASA`s new share capital is NOK 6 075 580,48.

Contact person: Mr. Kjetil Forland, Managing Director, e-mail:kjetil.forland@petrolia.no