Information disclosed on Extraordinary General Meeting

Berge Gerdt Larsen, controlling Larsen Oil & Gas Ltd, being the manager of Venture Drilling AS informed the general meeting that Maersk will terminate the drilling contract for Deep Venture when the present well is completed, estimated to be April 6, 2010. The Chairman of Petrolia Drilling ASA, Klaus Tollefsen, informed the meeting that, in his opinion, Maersk is not entitled to terminate the contract. Board of Directors Petrolia Drilling ASA Contact person: klaus@t-energy.no