Fulfilment of a condition of the agreement obliging the Company to sell its shares in TOO EMBA YUG NEFT

Legal basis: Article 56.1.2 of the Act on public offering in connection with Par. 5.1.4 of the Regulation of the Minister of Finance dated February 19th 2009 on current and periodic information to be published by issuers of securities and conditions for recognising as equivalent information required by the law of a non-member state

The Management Board of PETROLINVEST S.A. (the "Company") announces, with reference to Current Report No 75/2012 of 12 December 2012, that on 4 January 2013, the Company was informed that TOO EMBA YUG NEFT ("Emba") and the Ministry of Oil and Gas of the Republic of Kazakhstan had signed an annexe to Contract No 976 of 29 June 2002 for the exploration and production of hydrocarbons (the "Annexe").
Pursuant to the decision of the Ministry of Oil and Gas of the Republic of Kazakhstan, the receipt of which was announced by the Company in Current Report No 104/2011 of 4 October 2011, the Annexe has extended the exploration period under the Contract until 29 June 2013, so that the commercial value of the discovered deposit can be assessed.
The conclusion of the Annexe also means the fulfilment of another condition precedent of the agreement regarding the sale of shares in Emba concluded on 16 December 2011 between Petrolinvest and Conwell Oil Corporation B.V. (the "Agreement"), which was announced by the Company in Current Report No 118/2011 of
17 December 2011.

4 January 2013

/-/ Bertrand Le Guern - President of the Management Board
/-/ Franciszek Krok - Member of the Management Board

RB 2/2013

This document is a translation.

The Polish original should be referred to in matters of interpretation

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