Buyback of Bonds

Buyback of Bonds

On  02, September 2011, Petrolia ASA bought back NOK 30 000 000 of
outstanding bond at 89% + accured interest.

Following the completion of the buy back NOK 344.5 million of Bonds
remain outstanding.

The Bonds are listed at Oslo ABM with ISIN number NO 0010440258.

Bergen/Oslo, 05. September 2011

Contactpersons: Mr. Kjetil Forland - Managing Director,
e-mail:kjetil.forland@petrolia.no
                             Mr. Sølve Nilsen - Finance Manager, e-mail:
solve.nilsen@petrolia.no