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MANDATORY NOTIFICATION OF TRADE - CHAIRMAN

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Rolf E. Ahlqvist, Chairman of Badger Explorer ASA, has today 14 May 2009 purchased 10 000 shares in Badger Explorer ASA through his company Ahlqvist Invest AS at an average price of NOK 9.00 per share. His total holding after this is 465 407 shares, equivalent to 2.56 % of the total number of BXPL shares.

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