Petrolia Completes Bought Deal Private Placement

RIMOUSKI, QUÉBEC--(Marketwired - July 10, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Pétrolia (TSX VENTURE:PEA) (the "Company") is pleased to announce the closing of its previously announced bought deal private placement with Laurentian Bank Securities Inc. (the "Underwriter") for the purchase of 1,428,572 units (the "Units") of the Company at a price of $0.70 per Unit for total gross proceeds of $1,000,000 (the "Offering"). Each Unit is made up of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $1.00 per common share for a period of 36 months.

In consideration for its services, the Company has paid the Underwriter a cash commission equal to 7% of the gross proceeds of the Offering and has granted the Underwriter a total of 100,000 compensation options (the "Compensation Options"). Each Compensation Option entitles the Underwriter to acquire one common share in the capital of the Company at a price of $0.70 per common share for a period of 24 months.

All securities issued pursuant to the Offering are subject to a statutory resale restriction of four-months plus one day ending on November 11, 2013.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended).

About Pétrolia

Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 14,000 km² (3.5 million acres), which represents about 17% of the Québec territory under lease. The leases, the majority of which are located on the Gaspé Peninsula and Anticosti Island, are considered to be very promising and represent almost 70% of the territory under lease for which there is land-based oil potential in Québec. Pétrolia has 69,431,372 shares issued and outstanding.

Forward-looking statements

Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Pétrolia and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications o statements made by Pétrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Pétrolia does not intend and undertakes no obligation to update these forward-looking statements.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.