Badger Explorer ASA - Mandatory Notification of Trade

Reference is made to the EGM in Badger Explorer ASA ("the Company") on 23rd February 2017, where the share capital increase in connection with the Private Placement of 600,000,000 new shares in the Company (the "Private Placement") was approved, as well as the Subsequent Offering of up to 80,000,000 new shares in the Company that commenced on 15th February 2017 and expires on 27th February 2017 (the "Subsequent Offering").

This disclosure is made in accordance with Section 4-3 of the Norwegian Securities Trading Act. As a result of the completion of the Private Placement, the ownership for the  Chairman of the Board of Director's  Marcus Hansson and close associates will fall below 5% of the outstanding shares and votes, and below 5% assuming the Subsequent Offering is completed.

Marcus Hansson and close associates have been allocated 1,000,000 shares in the offering and will own a total of 21,616,668 shares in the Company after the Private Placement, equivalent to 2.22% of the outstanding shares and votes after the Private Placement. Assuming that the Subsequent Offering is completed, Marcus Hansson and close associates will own 2.04% of the outstanding shares and votes.

In connection with the Private Placement, Marcus Hansson and close associates entered into lock-up agreement on their shareholdings after the Private Placement lasting until 1st August 2017.

The above calculations are based on 978,537,288 outstanding shares in the Company after completion of the Private Placement and 1,058,537,288 outstanding shares in the Company after the completion of the Subsequent Offering.

Stavanger, 23rd February 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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