Petrolia NOCO AS (49.9% owned associated company) has reported indications of
hydrocarbons in the Bounty well (PL 935).

Upon entering the reservoir, logs and cuttings have given indications of
hydrocarbons and a decision has been made to initiate coring. The operations in
the reservoir section are still at an early stage and final results are not yet
available. More details about the well results will be published by the
Norwegian Petroleum Directorate in due course. 

PL 935 licence partners: ConocoPhillips Skandinavia AS (Operator and 40%),
Petoro AS (20%), Lundin Energy Norway AS 20%) Petrolia Noco AS (10%) and Equinor
Energy AS (10%).

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 08:40 CEST on 30 June 2022. The notice is subject to the
disclosure requirements pursuant to section 5 -12 of the Norwegian Securities
Trading Act.