Results of Cash Bond Tender Offer

Results of Cash Bond Tender Offer

 

Reference is made to the stock echange notice dated 9. June 2011.

The tender offer acceptance periode expired yesterday, 22. June 2011 at
17:30 CET.

Petrolia has received valid tenders in respect of Bonds in an aggregate
nominal amount of NOK 25.5 million, as according to the terms set out in
the offer document. All conditions for completion of the offer have been
met. Each holder of tendered Bonds will receive an offer price of NOK
425,000 per NOK 500,000 in nominal amount and accured interest of NOK
1,315 on the settlement date, expected to be 28.June 2011.

Following the completion of the offer NOK 374.5 million of the Bonds
remain outstanding. The Bonds are listed at Oslo ABM with ISIN number NO
0010440258.

Bergen/Oslo, 23. June 2011

Four further information - please contact:

Mr. Sølve Nilsen - Finance Manager, e-mail:
solve.nilsen@petrolia.no (solve.nilsen@petrolia.no)