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PETROJACK IV - CONTRACT

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Reference to stock exchange notice 26 August 2008.

Larsen Oil & Gas Pte Ltd, as drilling contractor, has on behalf of Petrojack IV Pte Ltd, a wholly owned subsidiary of Petrojack ASA, signed a drilling contract with PTT Exploration & Production Public Company Limited. Length of contract is 5 years at a rate of USD 151.000 per day.

PetroJack IV will mobilize immediately following delivery from Jurong Shipyard, scheduled mid-January 2009.


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



Bergen/Oslo, 14 November 2008