Aladdin Oil & Gas Company ASA (AOGC) held extraordinary shareholder’s meeting 5th. October 2009.

The objective with the meeting was to give proxy to the board of AOGC to increase share capital for a short defined period and limited amount of shares. This proxy was given in the meeting.

Further to the proxy the Board of AOGC has increased share capital by private placement to Lakeshore Buyout Fund Ltd, equivalent to ownership on 32,8 percent of the company Ownership is similar to the stake before the capital increase as of 25th. August 2009. The share price was NOK 0,50 per share. This placement is a result of a settlement between the two parties.

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.