Last trading day for subscription rights in the rights issue

Petrolia ASA (the ”Company”) – A public limited liability company organised under the laws of Norway.

The period for trading in subscription rights (ticker "PDR T") in the rights issue of Petrolia ASA ("PDR") expires at 17:30 hours (Oslo time) today, August 18, 2011.

Any subscription right not sold prior to 17:30 hours (Oslo time) on August 18, 2011 or used to subscribe for new shares in the rights issue before the end of the subscription period will lapse and cease to carry any value. The subscription period in the rights issue will continue until August 23, 2011 at 17:30 hours (Oslo time).

Holders of subscription rights (whether granted or acquired) must, in order to subscribe for new shares, submit a correctly completed subscription form to the following subscription office:

First Securities AS
Filipstad Brygge
P.O. Box 1441 Vika
0115 Oslo, Norway
Fax: +47 23 23 80 11

Subscribers who are Norwegian citizens may also subscribe for new shares through the VPS online subscription system by following the link on www.first.no. Please refer to the prospectus dated August 2, 2011 for further information.

First Securities AS is acting as manager for the rights issue.

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

Petrolia ASA - Bergen/Oslo, August 18, 2011