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Petrolia Noco

Petrolia Noco

PSE: Appraisal drilling confirms significant discovery at Dugong

15:25 / 29 March 2021 Petrolia Noco Press release

Please find attached the stock notice issued by Petrolia NOCO AS announcing that
revised recoverable resources are estimated to be between 40 - 108 million
barrels of oil equivalent (mmboe).

The partnership aims to submit a Plan for Development and Operation by the end
of 2022.

The Dugong partners plan to drill another exploration well in PL882 in the third
quarter of 2021, targeting the Dugong Tail prospect. This exploration well could
add additional volumes to the Dugong development.

Petrolia SE is the major shareholder (49.9%) in Petrolia NOCO. Petrolia SE has
also given an exploration loan of NOK 55 million to Petrolia NOCO.

Petrolia SE is listed with ticker "PSE" on Oslo Stock Exchange ( and
its activities are within E&P and Oil Services.
Petrolia NOCO AS is listed on the NOTC ( in Oslo with ticker "PNO".

This notice contains information which is considered inside information pursuant
to the European Market Abuse Regulation. The notice has been published by Mr.
Sølve Nilsen at 15:25 CEST on 29 March 2021.

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

Limassol 29 March 2021
Oslo Børs

This information was distributed by Oslo Børs