KVE – Annual Report 2009 and Shareholder Meeting 2010

Reference is made to notice to Oslo Stock Exchange dated 12 April 2010.
Petrolia Drilling ASA has received the following information from
Venture Driling AS:

“On initiative from M?rsk Oil Angola AS Venture Drilling is now in
without prejudice commercial negotiations with them regarding changes in
the ongoing drilling contract. Maersk informs that the present
operations will continue until late April.”

Petrolia Drilling ASA is of the opinion that Maersk Oil Angola AS has no
legal ground for making early redelivery without paying compensation for
loss of hire payment to January 2011.

Petrolia Drilling ASA
Board of Directors

Bergen/Oslo, 15 April 2010

This information is subject of the disclosure requirements acc. to §
5-12 vphl (Norwegian Securities Trading Act

Source: Millistream

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