STATUS PETROMENA ASA

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Oslo Byfogdembete has informed that NTM Refectio III AS has filed a new bankruptcy petition. The Board of Directors is considering the situation here under the possibilities for reaching an agreement with the creditors. Petrolia Drilling ASA owns 51,5% of outstanding shares in PetroMENA ASA. For further information, please contact : Bernt Skeie, e-mail: bernt.skeie@petrolia.no . Bergen/Oslo, 15 December 2008.