REGARDING POSSIBLE SHAREHOLDER COOPERATION IN DNO (VEDRØRENDE MULIG AKSJONÆRSAMARBEID I DNO)

Petrolia Invest AS, a wholly owned subsidiary of Petrolia ASA, refers to the OSE filing dated 7 November 2011, regarding a possible shareholder cooperation working for the valuation of DNO International ASA (DNO) better reflecting the underlying values of the company. Following the share price development over the recent months, and the annulment action against DNO, Petrolia Invest has decided not to continue the process regarding possible shareholder cooperation.

Please find attaced detailed announcement in separate Norwegian and English versions.

Bergen, 9 February 2012