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Regulatory press release

PSE: Løvmeis (PL 1013) commenced drilling

Petrolia
Petrolia Noco AS (49.9 % owned) today announced that drilling has commenced on
the Løvmeis Exploration Well 6608/10-R-2 H in the Norwegian Sea. The license was
awarded in the APA 2018 with Petrolia Noco as the initial operator. The
operatorship has later been transferred to Equinor.

The Løvmeis well is being drilled by Transocean Encourage, a CAT D
semi-submersible rig, owned and operated by Transocean. The well is being
drilled from the Fossekall template at a water depth of 358 metres.

PL1013 licence partners: Equinor (Operator, 40%), PGNiG (40%), Petrolia Noco
(20%).
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