Preliminary results of the Rights Issue

Petrolia ASA (the "Company" or "PDR") - A public limited liability
company organised under the laws of Norway.

The subscription period in the rights issue of Petrolia ASA expired at
17:30 (Oslo time) yesterday, 23 August 2011. Preliminary counts indicate
that Petrolia ASA received subscriptions for a total of approximately
171 million new shares whereas only 50,629,837 new shares were offered.

Final allocation of the shares offered in the rights issue is expected
to be resolved by the board of directors of Petrolia ASA on or about 25
August 2011 in accordance with the allocation criteria set out in the
prospectus dated 2 August 2011. The final result of the rights issue is
expected to be published through Oslo Børs' information system on or
about 25 August 2011 and notifications of allocated new shares and the
corresponding subscription amount to be paid by each subscriber are
expected to be distributed in letters on or about the same date.

First Securities AS is acting as manager for the rights issue.

Contact person:

Mr. Kjetil Forland, Managing Director, e-mail:
kjetil.forland@petrolia.no (kjetil.forland@petrolia.no)

Mr. Sølve Nilsen,Finance
Manager, email:solve.nilsen@petrolia.no (kjetil.forland@petrolia.no)