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Espehaugen 32 B
5258 Blomsterdalen
Norway

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5258 Blomsterdalen
Norway

24 February 2022

Petrolia NOCO AS Announces Farm Down Agreements with Equinor Energy AS

Petrolia NOCO AS is pleased to announce it has entered into two farm down agreements with Equinor Energy AS.

PL1013 and PL1013B

Petrolia NOCO will farm down a 40% participating interest of its 60% interest in its two exploration licenses PL1013 and PL1013B, where the exploration well Rafiki is planned to be drilled in 2023. As a part of the agreement Equinor Energy AS will assume operatorship of the licenses from Petrolia NOCO AS.

PL935

Petrolia NOCO will farm down a 10% participating interest of its 20% interest in PL935 where the exploration well Bounty is due to be drilled in the first half of 2022.

Both agreements are subject to license and regulatory approval.

More information can be obtained from Robert Arnott, Executive Chairman of Petrolia NOCO AS. Telephone: +44-7775 818890, ra@petrolia.no