OTHER ANNOUNCEMENTS

Thu, Dec 11, 2008 12:55 CET

Independent Oil & Resources ASA has on the 11th December taken delivery of 54.382.000 shares in Petrolia Drilling ASA.

After this transaction Independent Oil & Resources ASA owns 227.952.747 shares in Petrolia Drilling ASA, equal to 22.51% of the shares outstanding.

Bergen/Oslo 11 December 2008