BXPL Q3 2007 - MILESTONES REACHED, FIRM INTEREST IN PLACING ORDERS

Badger Explorer ASA experienced high activity level and important technical milestones were reached during 3Q. The achievements further confirm the potential in the Badger Explorer technology. In addition the environmental focus among Oil & Gas exploration companies has led to increased attention towards Badger Explorer ASA. The company is currently being approached by several oil companies showing firm interest in placing orders for Badger Explorer systems. Badger Explorer ASA has reached a significant technical milestone in 3Q; The full scale integrated systems function test has been completedand the design has been confirmed. The company is convinced that it`s technology has potential to have a profound impact on the exploration field in the years to come. The increasing environmental focus from authorities as well as developers and operators, confirm the environmental advantages of the Badger Explorer technology; no emissions to seaor air and superior with respect to both HSE and cost. At present the market experiences increased exploration activity and high rig rates. BXPL has during 3Q been approached by several operators showing interest in the Badger Explorer technology and system. The increased market interest supports the Badger Explorer business case. The present highactivity level within the Oil & Gas market represents challenges regarding recruitment, time schedules and deliveries. BXPL has experienced the constraints in these markets directly. Thus a revised development plan will be implemented. The revised plan will secure vital in-house competence in production, development and engineering capacity, through employment of more personnel and M&A activities. A revised plan still aims to introduce a commercially available service towards the end of 2008. Within Badger Plasma Technology AS, a 100% subsidiary of Badger Explorer ASA, Mr. Stig Hetlevik has been engaged as CEO and the Plasma Channel Drilling (PCD) development is positive. Thetechnology development is progressing according to plan and a scale removal tool is most likely to be the first commercial service. A U.S. patent has been granted for the PCD technology to which BXPL holds a world wide exclusive licence for within theOil & Gas market. For more information, please contact: Kjell Erik Drevdal, CEO, +47 916 43 552 Gunnar Dolven, CFO, +47 908 53 168 See also www.bxpl.com About Badger Explorer ASA Badger Explorer ASA is developing a revolutionary method for exploration and verification of oil and gas prospects, called Badger Explorer. Badger Explorer drills down and buries itself in the underground, equipped with numerous sensors, which measure and register vital formation and physical data. The method provides a substantially lower risk, cost and complex operation compared to utilising an expensive conventional drilling rig. The crushed formation cuttings are transported through the tool, deposited and compressed in the void behind the unit. Potential excess volume is injected into fractures generated by Badger Explorer. The unit is connected to a combined powerand signal cable which again is connected to the surface. The unit is powered by electricity and transmits data signals to the surface through the cable. Badger Explorer ASA has the ambition of launching a commercial service in the market late 2008. www.bxpl.com Disclaimer: This press release includes statements that may constitute forward-looking statements. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond Badger Explorer management`s control. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Althoughwe believe that the expectations reflected in the forward-looking statements are reasonable, we can give no assurance that such expectations will proveto be correct. The forward-looking statements involve risks and uncertainties that affect our operations, financial performance and other factors. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be anysale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.