Notification

Notification

Reference is made to todays mandatory notification of trade.

After the allocation of 8 558 951 new shares in the private placement
directed towards the board and employees, Larsen Oil & Gas AS now owns a
total of 19 479 220 shares, equal to 11.66% of the shares of Petrolia
ASA. Larsen Oil & Gas AS is controlled by Berge Gerdt Larsen, chair of
the board of Petrolia ASA.

Subscription price was NOK 0.50.

Bergen/Oslo, 9 September 2011