Norwegian Trustee has notified the cancellation of its bond issues of NOK 115 million, plus accrued interest, if the Extraordinary General Meeting tomorrow not adopts the proposed restructuring.

If the Board’s proposal for financial restructuring of Aladdin Oil & Gas Company ASA is not adopted at the Extraordinary General Meeting on the July 20th 2010, the Norwegian Trustee has notified the company that it will immediately terminate the company’s three bond issues, with a total nominal value of NOK 115 million plus accrued interest.

This applies to the following bonds:
ISIN NO: 001036650.3
ISIN NO: 001040032.8
ISIN NO: 001054567.6

For more information, please contact:

Einar Askvig, Chairman of the Board (Phone: +34 666 508 510)

Aladdin Oil & Gas Company ASA is a Norwegian based E & P company, with headquarter in Oslo, where it is on the OTC-list on the Norwegian Securities Dealers Association under ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia, which possesses two oil licenses in the Timan Pechora province in northwest Russia, and ZAO Orneftegaz Company and OOO Veselovskoye with totally 6 oil licenses in the Orenburg region.