Aladdin Oil & Gas Company ASA has agreed upon a bridge loan of USD 5mln from Waterford Finance & Investment Limited.

On Friday the 14th of January 2011 the Board of directors of Aladdin approved a bridge loan facility of USD 5mln from Waterford Finance & Investment Limited repayable in 6 months.

The Chairman comments:

“We are happy to see Waterford’s commitment to investing in Aladdin. The loan facility will make it possible for Aladdin to continue with its investment program without delay”.

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia which holds two licenses in the Timan-Pechora province in Northwest Russia, as well as 6 licenses through our companies ZAO Orneftegaz and OOO Veselovskoye in the Orenburg area.