ISIN NO 0010440258 BOND BUY BACK

Petrolia E&P Holdings SE (Petrolia) has completed a bond buy back of NOK 101.1 million of ISIN NO 0010440258.

In the third quarter 2012 report, Petrolia made reference to the sale of NOK 139.5 million of its own bond, ISIN NO 0010440258. Due to a challenging environment for reselling the bonds, Petrolia granted the buyer a short-term waiver of a residual settlement, following three installments plus payment of interest from the buyer.

“Petrolia has informed the buyer it ́s intention to redeem the bonds, with interest and coverage of liabilities, if an applicable solution is not made”, the company stated in the third quarter report, released 23 November 2012.

The company has completed the buy back of bonds totaling NOK 101.1 million. Following the transaction Petrolia holds own bonds for NOK 124.1 million. The outstanding balance of ISIN NO 0010440258 is NOK 344.5 million. The company has no other long-term outstanding debt.

The holding of own bonds will be used as a part of the company´s long-term funding program.

Bergen, 29 January 2013

For further information, please contact:

Kjetil Forland                                                                                    Sølve Nilsen

Managing Director                                                                           Finance Manager

Phone: +47 93 24 00 27                                                                  +47 951 79 269

Mail: kjetil.forland@petrolia.no                                                         solve.nilsen@petrolia.no

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.

About Petrolia E&P Holdings SE

Petrolia E&P Holdings SE has three business segments: E&P, Drilling & Well Technology and OilService and is listed on Oslo Stock Exchange under the ticker code PDR. The core activity includes Petrolia Norway AS, an independent oil & gas company approved as a licensee on the Norwegian Continental Shelf. In addition, Petrolia E&P Holdings SE owns Independent Oil Tools Group, a leading rental equipment company for the global oil industry. The company employs a staff of around 250 highly competent employees worldwide.