MANDATORY NOTIFICATION OF TRADE

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Norwegian Oil Company AS, 100% controlled by Mr. Lars Moldestad, Managing Director of Petrolia Drilling ASA, has on 20. November 2008 bought 1.000.000 shares in Petrolia Drilling ASA at a price of NOK 0,6423 per share.

Following this transaction Mr. Moldestad controls 4.203.201 shares in Petrolia Drilling ASA, representing a total of 0,42% of the shares outstanding in Petrolia Drilling ASA.


Bergen/Oslo, 21 November 2008