Appointment of Andrey Lavka as new CFO

Andrey joined the Company in July 2010 as Financial Advisor and was involved in financial restructuring and operational improvement of business activities.

Previously Andrey worked for PricewaterhouseCoopers and Deloitte and, most recently, he served as Director for Finance Control and Risk Management of Golden Telecom Inc., a company subsequently merged into Vimpelcom. Andrey is a fellow of Association of Chartered Certified Accountants, holds Master’s Degree of Moscow Engineering and Physics Institute as well as MBA from Government University of Management.

Jorn Barkenæs has decided to resign from the Company in order to seek other career opportunities.

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.