MANDATORY NOTIFICATION OF TRADE

Reference to our announcement of 25th August regarding Final results of
the Rights Issue.

Larsen Oil & Gas AS, a company controlled by Berge Gerdt Larsen, has
been allocated a total of 5.120.269 shares in Petrolia ASA. New holding
is 10.920.269 , 7.19% of outstanding shares in Petrolia ASA.

Bergen/Oslo, 30.08.2011