Increase of share capital and change in board

Reference is made to the stock exchange notice of 5 September 2011
regarding the resolution to issue 15 188 951 new shares in Petrolia ASA.
The issue was fully subscribed and 15 188 951 new shares were allocated
by the board of directors on 8 September 2011, ref. stock exchange
notice of 9 September 2011. The new shares have been fully paid and the
share capital increase has been registered in the Norwegian Register of
Business Enterprises per 19. September 2011. Petrolia ASA`s new share
capital is NOK 6 683 138,52.

Marit Instanes has in agreement with the Company decided to step down
from the board of the Company with immediate effect.

"We would like to thank Marit for her dedication and excellent service
as a director of the revitalized Petrolia and wishes her all the best
going forwards", says Berge Gerdt Larsen, chairman of Petrolia ASA.

Contact persons:

Managing director, Kjetil Forland, kjetil.forland@petrolia.no

Finance manager, Sølve Nilsen, solve.nilsen@petrolia.no

This information is subject of the disclosure requirements in Norwegian
Securities Trading Act § 5-12.

About Petrolia

Petrolia ASA has three business segments: E&P, Drilling & Well
Technology and Oilfield Services and is listed on Oslo Stock Exchange
under the ticker code PDR. The core activity includes Petrolia Norway
AS, an independent oil & gas company aiming at being prequalified as a
licensee on the Norwegian Continental Shelf within 2011. The company
currently holds 10 per cent of Ulvetanna. In addition, Petrolia ASA owns
Petrolia Services AS, a leading rental equipment company for the global
oil industry. The company employs a staff of around 250 highly competent
employees worldwide.