Petrolia Drilling ASA secures contract for DS Deep Venture

Larsen Oil and Gas Ltd. of Aberdeen on behalf of Venture Drilling AS has contracted with Exxon Mobil Corp. for the drillship Deep Venture. The contract duration is 18 months, with the last 12 months of the contract subject to approval by the relevant government authority in the area of operation.

Offshore staff

BERGEN, Norway -- Larsen Oil and Gas Ltd. of Aberdeen on behalf of Venture Drilling AS has contracted with Exxon Mobil Corp. for the drillship Deep Venture. The contract duration is 18 months, with the last 12 months of the contract subject to approval by the relevant government authority in the area of operation.

Venture Drilling AS estimates the contract will begin in May 2007.

3/27/2007

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