Petrolia SE: Preliminary Report as per 4th Quarter 2013

LIMASSOL, Cyprus & BERGEN, Norway--()--Regulatory News:

Please find attached the preliminary report as per 4th quarter 2013 for Petrolia SE (OSE:PDR): http://mb.cision.com/Public/1707/9544597/bfe277ed5ceb5f0a.pdf

PETROLIA SE fourth quarter and preliminary annual results 2013:

Financial results

· Earnings per share was USD -0.19 per share for the quarter and USD 0.38 for the year.

· Total comprehensive income of USD -5.7 million in Q4 2013 compared to USD -0.8 million in Q4 2012.

· For the year, total comprehensive income was USD 11.9 million in 2013 compared to USD - 6.2 million in 2012.

· Increase in EBITDAX (EBITDA excluding exploration costs) to USD 7.8 million in Q4 2013 and USD 35.3 million for the year 2013, compared to USD 1.9 million in Q4 2012 and USD 19.6 million for the year 2012.

· Revenue was USD 30.0 million in Q4 2013 compared to USD 32.9 million in Q4 2012 and USD 120.1 million in 2013 compared to USD 102.9 million in 2012.

· Shareholders’ equity as at 31 December 2013 was USD 3.76 per share. Year-end share price was NOK 5.99, or USD 0.98 at USD/NOK 6.08.

Oil and Gas: Focus on development of licence portfolio

· Preparations completed for Tastaveden well.

· Application made for a license in Awards in Predefined Areas in Norway (APA) 2013.

· Multiple farm-in opportunities evaluated.

OilService: Positive performance continues

· OilService division returns improved results with a good performance across all geographic regions.

Well and Drilling Technology: Good operational performance from land rig

· Drilling rig successfully completed 21 wells to conclude Romanian contract.

Post-period developments

· 11 January 2014: Petrolia Norway AS spudded the well 25/9-4 Tastaveden in PL 628. The well was water wet.

· 14 January 2014: Petrolia Norway AS entered into an agreement with Lundin Norway AS to purchase 10 % in PL 546.

· 16 January 2014: Extension of bond loan by two years from June 2015 to June 2017.

· 21 January 2014: Petrolia Norway awarded 20 % of the PL 739S license in the 2013 Awards in APA in Norway.

Limassol/Bergen 28 February 2014

Board of Directors Petrolia SE

This information is subject of the disclosure requirements acc. to § 5 -12 vphl (Norwegian Securities Trading Act)

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Contacts

Petrolia SE
Kjetil Forland - General Manager
Tel: +47 55 22 47 28
Cell: +47 932 40 027
Email: pdr@petrolia.no
or
Sølve Nilsen, Finance Manager
Email: solve.nilsen@petrolia.no

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Contacts

Petrolia SE
Kjetil Forland - General Manager
Tel: +47 55 22 47 28
Cell: +47 932 40 027
Email: pdr@petrolia.no
or
Sølve Nilsen, Finance Manager
Email: solve.nilsen@petrolia.no