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REDUCTION OF THE SHARE CAPITAL :  UPDATED CERTIFICATE OF REGISTRATION

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Reference is made to the announcement by Petrolia ASA dated 20 December 2010 regarding Minutes of Meeting from the Extraordinary General Meeting on 17 December 2010.

Petrolia ASA has on 07 March 2011 received an updated certificate of registration reflecting the reduction of the share capital.

The share capital is reduced from NOK 506,298,375 to NOK 4,050,387. The par value is reduced from NOK 5.00 to NOK 0.04 per share.

Bergen/Oslo,  07 March 2011

PETROLIA ASA 

This information is subject of the disclosure requirements acc. to § 5-12 vphl (Norwegian Securities Trading Act)