STATUS PETROMENA ASA

Reference is made to stock notice dated 09.10.2009 concerning Norsk Tillitsmann ASA's bankruptcy petition of PetroMENA ASA. Oslo Byfogdembete has dismissed the petition from Norsk Tillitsmann ASA and has further rejected the petition filed by NTM Refectio III AS. Oslo Byfogdembete has decided that Norsk Tillitsmann ASA is not entitled to file for bankruptcy of PetroMENA ASA due to lack of legal interest, and has rejected the bankruptcy petition from NTM Refectio III AS due to the prohibition against separate debt recovery proceedings from the individual bondholders in the loan agreement between the parties. For further information, please contact Mr. Lars Moldestad phone. +47 906 99 197. Bergen/Oslo, 04 November 2009