Badger Explorer ASA – Ongoing Partner Negotiations / Auditor's Report 2014
Badger Explorer ASA (BXPL) is currently negotiating participation in the Badger Development Program 2015-2017 and related funding with two major oil companies. Agreements are yet not signed, but indicative commitments have been given. BXPL expects to have the signatures later this year and thereby secures a going concern position.
Reference is made to BXPL’s stock exchange notice published on 14th April 2015 related to the Annual General Meeting (AGM) to be held at the Company's premises at Forusskogen 1, 4033 Stavanger, Norway on 5th May 2015 at 10:00 CET.
Enclosed is the auditor’s report for 2014 which has been issued today. The auditor’s report highlights “Emphasis of matter”, i.e. the current cash position at BXPL “indicates the existence of a material uncertainty about the Company’s ability to continue as a going concern”.
Additional information will be given at the AGM.
Stavanger, 30th April 2015
For further information, please contact:
Steinar Bakke, CEO, cell phone +47 930 70 466, office +47 52 97 45 50
Gunnar Dolven, CFO, cell phone +47 908 53 168, office +47 52 97 45 40
Tags: