Petrolia Drilling ASA - Stock Exchange Notice 10 July 2008

Petrolia Drilling Extension of drilling contract Deep Venture.

Due to additional time required to finalize drilling operation, Mærsk Oil Angola AS as an user under the present contract with Exxon, has requested Venture Drilling AS for an extension of the contract.

Venture Drilling AS has agreed to a six months extension started from the 25 January 2009 until 25 July 2009 at a dayrate of USD 425.000 after withholding tax.

For further information : please contact Mr. Lars Moldestad - phone +47 55 22 47 10.

Bergen/Oslo, 10 July 2008.

Petrolia Drilling

http://www.petrolia.no

ISIN: NO0003075301

Stock Identifier: OSE.PDR