MANDATORY NOTIFICATION OF TRADE

Fri, Aug 28, 2009 13:41 CET

Molasset AS, 100% controlled by Mr. Lars Moldestad, Managing Director of Petrolia Drilling ASA, has on 28 August 2009 bought 1.000.000 shares in Petrolia Drilling ASA at a price of NOK 0,43 per share. Following this transaction Mr. Moldestad controls 5.500.000 shares in Petrolia Drilling ASA, representing a total of 0,54% of the shares outstanding in Petrolia Drilling ASA. Bergen, 28 August 2008