Aladdin Oil & Gas’ (AOGC) bondholders have today voted in favor of AOGC’s proposal to restructure the company’s entire bond debt. The proposal entails extending the maturity dates and reducing the coupon interest rates for a period of time on our 3 outstanding bond issues.

The restructuring of the company’s entire debt, will give the company more financial leeway to execute its business plan, ease the refinancing strains, diminish our interest service obligations and improve the company’ s position to attract additional equity.

The new structure will by freeing up capital, contribute significantly to the development of licenses and accelerate the company’s earnings potential.

The notice from the bondholders meeting with further explanation of the background can be found on the webpage of Norsk Tillitsmann (meaning “Norwegian Trustee”) www.stamdata.no.

Aladdin Oil & Gas Company would like to take this opportunity to thank our bondholders for their support.

For more information, please contact:
Chief Financial Officer Jørn Barkenæs (+47 22 97 99 00/+47 917 27 440)

Or the company’s advisor:
Einar Lyche
Lyche, Holst & Partners AS
Tel: +47 22403120
Mob: +47 90594959

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.