Aladdin has been informed that its major shareholder has signed an agreement with a third party whereby that third party will invest up to $5,000,000 USD in the Company, subject to due diligence for the purpose of evaluating and completing certain investment opportunities.

Present Board has been appointed since February 2014 following the resignation of the previous board at the time of capital reconstruction of Aladdin. 

Since then the new board has secured recapitalization and streamlined the Company's operations to enhance its future profitability. The net result of this process has been a satisfactory and substantial increase in margins to Company's Russian operations. 

The board is currently assessing a number of new investment opportunities and is in discussion with a number of parties in that respect.

Aladdin has been informed that its major shareholder has signed an agreement with a third party whereby that third party will invest up to $5,000,000 USD in the Company, subject to due diligence for the purpose of evaluating and completing certain investment opportunities. 

The board believes that the OTC listing enhances the Company's access and exposure to the Norwegian and international capital markets and that an attractive acquisition will be forthcoming. 

In consequence of the above, a general meeting of the shareholders of the Company will be called by the middle of August 2014.


For further information, please contact:

John E. Skajem, CEO 
Email: john.e.skajem@araca.no
Phone: +47 4188 7412

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered at Fornebu outside Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian gas company OOO Geotechnologia which holds four licenses in the Timan-Pechora province in Northwest Russia.