STATUS PETROMENA ASA.

Reference is made to stock notice dated 21.09.2009 Petromena ASA has argued to Oslo Byfogdembete that Norsk Tillitsmann ASA is not entitled to file for bankruptcy of Petromena ASA. The Company is of the opinion that such bankruptcy filing should be made by the bondholders in their own names due to that the company should have the possibility to negotiate other debt solution directly with the bondholders and if the bondholders should act tortuous the company should have the possibility to hold each bondholder liable. Oslo Byfogdembete has decided to hear the parties arguments and has postponed the court hearing regarding bankruptcy filing to 29.10.2009. Bergen/Oslo, 09 October 2009.