(Oslo, 16th January 2009) Aladdin Oil & Gas Company ASA has so far this month issued a total of 909,000 shares at NOK 7,70 to Venatino Trading Limited

Venatino Trading Limited is committed to fullfill the previously agreed placement, but due to the current situation in the international financial markets, some delays in the payments are expected

For further information, please contact:
Chairman of the Board, Einar Askvig (+34 666 508 510) or CEO, Hans-Axel Jahren (+47 900 70 873)

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 the company ZAO Orneftegaz in the Orenburg area.