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Regulatory press release

PSE: Technical discovery on Løvmeis prospect (PL1013)

Petrolia
Petrolia Noco AS (49.9 % owned) today announced that drilling operations on the
exploration well on the Løvmeis prospect in PL1013 have been concluded. The well
is determined as a technical discovery and will be permanently plugged and
abandoned. More details about the well results will be published by the
Norwegian Offshore Directorate shortly.

PL1013 license partners: Equinor (Operator, 40%), ORLEN Upstream Norway AS
(40%) and Petrolia Noco AS (20%).
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