Petrolia: Allocation of Stock Options

Petrolia has filed a modification to its stock option plan with the TSX Venture Exchange. This change will increase the maximum number of stock options that may be issued under this plan from 2,650,000 to 3,400,000.

In accordance with its compensation policy and its stock option plan, the Board of Directors of Petrolia granted 600,000 stock options on February 12, 2008, at an exercise price of $0.60 per share, maturing on February 12, 2013, to its directors, senior management, employees, and service providers.