Aladdin Oil & Gas Company ASA (AOGC) has agreed a NOK 50 million placement towards Highmoor Business Corporation Ltd. Following the placement, the previously approved placement can be completed.

The company has secured financing of NOK 50 million at NOK 0.50 per share, through a private placement towards Highmoor Business Corporation Ltd. The subscribers in the placement that have fulfilled their obligations have been offered equal terms as HBC.

- We are pleased having completed this transaction, securing the company sufficient capital for the further operations and development, says Einar Askvig, chairman of the board.

For futher information, please contact
COB Einar Askvig, (+34 666 508 510)

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.