UPDATE ON PETROLIA BONDS
Reference is made to our notice 13 June 2013 regarding the voluntary exchange offer
and to our notice 11 September 2012 regarding buy back of bonds.
Buy Back of Bonds - 2nd part completed:
Petrolia has purchased bonds in its ISIN NO0010440258 for NOK 23 000 001. The third and final part of this buy back commitment is due 20 June 2014.
Voluntary exchange offer - NOK 288 500 002 accepted the offer:
Prior to the offer total outstanding bonds was NOK 344 500 000. A total of NOK 288 500 002 accepted the offer and are receiving same amount in the new bond while the old bond is reduced with the same amount.
The new bond, ISIN NO 001 068359.2, is in process of being listed on the Nordic ABM.
Status after the above transactions:
ISIN NO0010440258: “Old Bond Loan”
Outstanding balance = NOK 55 999 998
Remaining buy back commitment = NOK 22 999 998
Borrower’s Bonds = NOK 0
ISIN NO001068359.2: “New Bond Loan”
Outstanding balance = NOK 288 500 002
Borrower’s Bonds = NOK 137 103 983
The holding of Borrower's Bonds will be used as a part of the Company’s long-term funding program.
Limassol/Bergen, 27 June 2013
Contact information:
Kjetil Forland, general manager: kjetil.forland@petrolia.no
Sølve Nilsen, finance manager: solve.nilsen@petrolia.no
About Petrolia SE
Petrolia SE has three business segments: E&P, Drilling & Well Technology and OilService and is listed on Oslo Stock Exchange under the ticker code PDR. The core activity includes Petrolia Norway AS, an independent oil & gas company approved as a licensee on the Norwegian Continental Shelf. In addition, Petrolia SE owns Independent Oil Tools Group, a leading rental equipment company for the global oil industry. The group employs a staff of around 350 highly competent employees worldwide.