Badger Explorer ASA - Statoil Approved Milestone In The Development Program

On 8th July 2016, Statoil approved the third key deliverable of Milestone 1 of the Badger Explorer Development Program; long term testing of the cuttings transport system. The approval released NOK 2.5 million from Statoil.

“Testing the system for several hundred of hours has increased our confidence in the system”, says Øystein Larsen, CEO of BXPL. “We now consider one of the main challenges with the Badger concept solved".

The first parts of Milestone 1, qualification of high power HPHT Ultrasonic Transducers and function testing of the cuttings transport system, were completed and approved by Statoil earlier in 2016.

Stavanger, 11th July 2016

For further information, please contact:
Øystein Larsen, CEO, cell phone +47 932 68 743

www.bxpl.com

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Hunter Group ASA is a publicly traded investment company listed on the Oslo Axess. Hunter Group currently has 7 high spec VLCC's with scrubbers under construction at DSME in Korea.

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