Based on an interim audit of the Company’s Russian subsidiaries the Company estimates that the consolidated assets are reported at approximately NOK 11 million above its correct balance-sheet value as of 30 September 2009, and that the consolidated net profit and equity to be reduced by the same quantity. The audit is not concluded. The corrections will be reported in the financial statements for the fourth quarter 2009.
The Company expects to present the financial statements for the full year 2009 by ultimo May 2010.

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.