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 subsequent offering of 80,000,000 new shares each with a nominal value of NOK 0.125, at a price of NOK 0.125 per share (the "Subsequent Offering I").

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

The Company's new registered share capital is NOK 132,317,161 divided into 1,058,537,288 shares, each with a nominal value of NOK 0.125.

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

Stavanger, 7th March 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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