Aladdin Oil & Gas Company ASA has at the end of the subscription period received subscriptions for NOK 80,810,600. The funds will be used to finance the ongoing work program and repayment of the bridge loan granted by Waterford Finance & Investment Limited.

Following registration and issue of new shares, the total number of outstanding shares will therefore be increased from 43,826,436 to 64,992,093.

The Chairman comments:

“I am pleased we have received such strong interest from existing shareholders and new investors in this offering. This allows the company to continue its work program, to increase our production and reassess our reserves base”.

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.