24.03.10 - Notice

DISCLOSURE OF MAJOR SHAREHOLDING

INDEPENDENT OIL &  RESOURCES ASA - NOTICE 24 MARCH 2010

Independent Oil & Resources ASA has on the 22nd of March bought 80.000.000
shares in Petrolia Drilling ASA.

Following the transaction Independent Oil & Resources ASA owns 269.000.000 shares in Petrolia Drilling ASA, which equals 26.56% of issued shares in the company.



Bergen/Stavanger, 24 March 2010

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Independent Oil & Resources ASA
Midtgårdveien 30185 | 4065 Stavanger | Phone: +47 51 81 94 00 | Fax: +47 58 84 94 99 | iot@independent.no
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