Sale of Bonds

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Petrolia ASA has today sold NOK 139 500 000 of outstanding bond at par + accured interest. Following the transaction Petrolia ASA owns no bonds.

The Bonds are listed at Oslo ABM with ISIN number NO 0010440258.

Bergen/Oslo, 16. May 2012

Contactpersons:

  Mr. Kjetil Forland - Managing Director, e-mail:kjetil.forland@petrolia.no

  Mr. Sølve Nilsen - Finance Manager, e-mail: solve.nilsen@petrolia.no