PDR ASA - CONTRACT FOR PETROJACK II

Petrojack II Pte Ltd, a subsidiary of Petrojack
ASA, has together with the manager, Larsen Oil &
Gas Ltd, entered into a charter agreement with an
international contractor for hire of Petrojack II.

Petrojack II, a Baker Pacific Class 375 design, is
under construction at Jurong Shipyard Pty in
Singapore, with estimated delivery ultimo March
2008.

The contract for Petrojack has a duration of 4
years, commencing upon delivery of the rig from
Jurong.

The hire under the contract is USD 100.000 per day.

Petrojack II Ltd shall supply some key personnel
and services.

The Charterer is responsible for these costs and
other operational costs of the unit.

The Charter Agreement includes a purchase option at
a price of USD 200 million, 12 months after the
beginning of the contract.

Petrolia Drilling ASA owns 39,95% of the
outstanding shares in Petrojack ASA.



For further information - please contact
Mr. Lars Moldestad : phone +47 906 99 197.


Bergen/Oslo, 06 February 2008
Board of Directors of Petrojack ASA