Tender offer - Buy-back of own bonds

Petrolia ASA has today authorised ABG Sundal Collier Norge ASA to offer
buy-back of up to NOK 100 million (par value) of the outstanding bonds
in the 12.00% Petrolia Drillng ASA Callable Bond Issue 2008/2012 with
ISIN NO 001044025.8 The offer will be at 85.0 per cent of par value plus
accrued interest. The terms and conditions of the offer are further set
out in the enclosed offer document.

For further information, please contact: Mr. Sølve Nilsen - Finance
Manager e-mail: solve.nilsen@petrolia.no (solve.nilsen@petrolia.no)

Bergen/Oslo 9.June 2011