On 28 February 2011, Aladdin Oil & Gas Company ASA held the Annual General Meeting in relation to the group and company accounts for the fiscal year 2009.

Present at the Annual General Meeting was more than 65% of the total shares issued in the Company, either in person or by proxy.

The Annual General Meeting approved the group and company accounts for the fiscal year 2009 as per the proposal from the Board, the fees to the Directors and auditor and the statement regarding salary and other remuneration to the senior management of the Company.

According to the proposal from the Board, the Annual General Meeting further adopted a resolution to consolidate the shares of the Company, in such a way that 40 shares (with a par value of NOK 0.10) are consolidated into 1 share (with a par value of NOK 4). Following the shares consolidation, the share capital of the Company is NOK 175,305,744 divided into 43,826,436 shares each with a par value of NOK 4.

Moreover, the Annual General Meeting adopted a resolution to issue freestanding subscription rights (warrants) to the Directors and designated persons affiliated with the Company. The total sum of the freestanding subscription rights (warrants) issued by the Annual General Meeting amounts to 1,638,500 each entitling the holder to demand one ordinary share in the Company. Subscription of the freestanding subscription rights (warrants) will be carried out by consecutive subscription letters to the Directors and designated persons.

A scanned copy of the signed minutes from the Annual General Meeting is available below:

Minutes from AGM February 28, 2011

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 three licenses in the Timan-Pechora province in Northwest Russia, as well as 5 licenses through our company OOO Veselovskoye in the Orenburg area.