MINISTRY APPROVAL OF PL 506S, 506BS, 506CS and 506DS TRANSFER TO PETROLIA NORWAY

The Ministry of Petroleum and Energy has approved the transfer of 30 per cent of PL 506S, 506BS, 506CS and 506DS from Front Exploration AS to Petrolia Norway AS, a subsidiary of Petrolia ASA.

Reference is made to the stock exchange notice 18 May 2012.

The Ministry of Petroleum and Energy has now approved the transfer of 30 per cent of PL 506S, 506BS, 506CS and 506DS from Front Exploration AS to Petrolia Norway AS, a subsidiary of Petrolia ASA.

Drilling is expected in the first quarter of 2013. This transaction conforms to Petrolia Norway's strategy of maximising field potential through innovative exploration and increased oil recovery technology from mature areas on the Norwegian Continental Shelf, leveraging on the extensive industry experience of the Petrolia Norway team.

Bergen, 12 September 2012

For further information, please contact:

   Vidar Bergo Larsen, Managing Director Petrolia Norway AS

   Phone: +47 90 86 60 41 E-mail: vidar.bergo.larsen@petrolia.no

  Kjetil Forland, Managing Director Petrolia ASA

  Phone: +47 93 24 00 27 E-mail: kjetil.forland@petrolia.no