Petrolia Norway AS, a 100% subsidiary of Petrolia SE, announces that drilling of
wildcat well 26/10-1 is completed.  The well investigated the hydrocarbon
potential of the Zulu prospect in PL674BS, which is located 100 km west of
Stavanger on the Norwegian west coast and approximately 30 km northeast of the
Johan Sverdrup discovery.
The main objective of well 26/10-1 was to test the hydrocarbon potential in the
Miocene Utsira Formation sand.

The well encountered Utsira Formation sand with very good reservoir quality.
The well encountered gas in an upper 24 m sand sequence.  Pressure measurements
imply a gas column of 36 m at the well. Thorough logging and sampling has been
performed. Fluid data will be analysed and detailed mapping performed for
resource potential evaluation. The well is being plugged and abandoned as a gas
discovery.

The well was drilled by the drilling rig Island Innovator to a total depth of
995 m subsea and was terminated in sediments of presumed Oligocene age Hordaland
Group. The well was drilled in a water depth of 140 m on the Patch Bank Ridge.

This well was the first exploration well in licence PL674BS, which was awarded
as a part of PL674 in APA 2012 and carved out as a separate licence in 2014.

Petrolia Norway holds 35 per cent working interest in PL674BS. Partners Lundin
Norway, operator, and E.ON E&P Norge holds 35 and 30 per cent working interest
respectively. The drilling rig will permanently plug and abandon the well.

Limassol/Bergen, 6 February 2015

Contact person:

Vidar Bergo Larsen

Managing Director

Petrolia Norway AS

Phone: +47 90 86 60 41

E-mail: vidar.bergo.larsen@petrolia.no

This information is subject of the disclosure requirements pursuant to section
of 5-12 of the Norwegian Securities Trading Act.

About Petrolia Norway AS

Petrolia Norway AS maximizes field potential through innovative exploration in
mature areas on the Norwegian Continental Shelf, leveraging on the extensive
industry experience of the Petrolia Norway team. Petrolia Norway AS is qualified
as a licensee on the Norwegian Continental Shelf. The company currently has
ownership in 13 licenses on the NCS. The company is fully owned by Petrolia SE,
listed on the Oslo Stock Exchange, with head office in Limassol, Cyprus, and
regional offices in Oslo and Bergen.

About Petrolia SE

Petrolia SE has three business segments: E&P, Drilling & Well Technology and
OilService and is listed on Oslo Stock Exchange under the ticker code PDR. The
core activity includes Petrolia Norway AS, an independent oil & gas company
approved as a licensee on the Norwegian Continental Shelf, and a group of
leading rental equipment companies for the global oil industry. Petrolia SE
employs a staff of around 330 highly competent employees worldwide.
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