Please find attached the stock notice issued by Petrolia NOCO AS announcing that
the drilling of the Dugong well (PL 882) on the Norwegian Continental Shelf
(NCS) will commence by the 19th of June. Petrolia SE is the major shareholder
(49.9%) in Petrolia NOCO. Petrolia SE has also given an exploration loan of NOK
100 million to Petrolia NOCO.

This is the first well that Petrolia NOCO has participated in since 2015. Should
the well result in a commercial discovery, this may be transformative for the
company.

Petrolia SE is listed with ticker "PSE" on Oslo Stock Exchange (www.ose.no) and
its activities are within E&P and Oil Services. Petrolia NOCO AS is listed on
the NOTC (www.notc.no) in Oslo with ticker "PNO".

Limassol 17 June 2020

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