Badger Explorer ASA - Increase of the Company's Share Capital

Reference is made to previous announcements published by Badger Explorer ASA (the "Company") regarding the private placement of 360,000,000 new shares each with a nominal value of NOK 0.125, at a price of NOK 0.125 per share (the "Private Placement").

The share capital increase pertaining to the new shares issued in the Private Placement has now been registered with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK 47,317,161 divided into 378,537,288 shares, each with a nominal value of NOK 0.125.

The new shares will not be admitted to trading on Oslo Axess before a listing prospectus has been published.

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Stavanger, 16th January 2017

For further information, please contact:
Gunnar Dolven, CFO, cell phone +47 908 53 168
Marcus Hansson, COB, cell phone +44 782 4460 691

www.bxpl.com

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About Us

The Badger Explorer is a technology for exploring and mapping hydrocarbon resources. The tool is equipped with logging sensors and communication solutions. The tool drills into and buries itself in the underground. It operates at a lower risk, lower costs and less complexity than a drilling rig.

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