(Oslo, November 19th, 2007) Aladdin Oil & Gas Company ASA has appointed Pareto Securities ASA as manager for a placement of a Bond Loan with warrants attached for a total loan amount of up to NOK 50 million by way of a private placement to institutional investors.

The bond issue is conditioned upon the approval of the company’s extraordinary general assembly. The invitation to the extraordinary general assembly will be sent out in week 47.

The bond proceeds will be used in the company’s capital expenditure investment program that includes a further development of the existing fields, new seismic surveys, the acquisition of new rigs, in addition to accelerating the work over and drilling program in Orenburg.

For further information, please contact:
CEO, Espen Glende, Aladdin Oil & Gas Company ASA, Phone: (+47) 23 13 14 30.

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. The company has around 80 employees and intends to be traded on Oslo Axess during 2007.