Founder of Aladdin Oil & Gas Company ASA, Hans-Axel Jahren, resigns from the company with effect from 1 January 2011.

After 5 years in Aladdin Oil & Gas Company ASA one of the founders, Hans-Axel Jahren, chooses to resign from the company. As from 1 January 2011 Jahren will focus on new and independent projects.

I have appreciated an exciting and challenging period in a very interesting company. We have developed the company from being owner of mere exploration licenses to a company that actually produces oil as well as gas in Russia. I will undoubtedly continue to follow the company from the sideline, Jahren says.

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.