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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 27. November 2008 bought 296.799 shares in Petrolia Drilling ASA
at a price of NOK 0,8405 per share.

Following this transaction Mr. Moldestad controls 4.500.000 shares in Petrolia Drilling ASA,
representing a total of 0,44% of the shares outstanding in Petrolia Drilling ASA.


Bergen, 27 November 2008