Petrolia SE Group , has two divisions, Energy and Energy Service. Petrolia is the largest shareholder (49.9%) inPetrolia NOCO AS ("PNO" on NOTC) and is the largest lender to the company. Presently, Petrolia has given an unsecured loan ofNOK 56,750,000 . PNO has reported commencement of drilling a wildcat exploration well on NCS in a promising prospect "Bounty" in PL 935 (10%). Ref attached map and notification of well approval by theNorwegian Petroleum Directorate (NPD). The well is shallow with low cost and has a low chance of discovery, but has a high potential value to the shareholders of PNO and Petrolia. In addition, the well is financed by a carry of cost, so no additional financing is needed from Petrolia and other lenders. PNO presently has a NOTC stock market value of aboutNOK 320 million . The Energy Service Division consist of Green Energy Service activities and global Oilservices. Revenue for the Energy Service segment for 2021 wasUSD 50 million (2020:USD 44 million ) with a result for the year ofUSD 2.5 million in 2021 (2020:USD 1.3 million ) ref note 5 of the Annual Report. The stock market value forPetrolia SE on theOslo Stock Exchange is aboutNOK 500 million .Berge Gerdt Larsen / Sølve Nilsen Executive Chair /Finance Manager
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