Hunter Group ASA

Share Issue/Capital Change • Mar 31, 2017

Badger Explorer ASA - Increase Of The Company's Share Capital

Badger Explorer ASA - Increase Of The Company's Share Capital

Reference is made to previous announcements published by Badger Explorer ASA

(the "Company") regarding the Subsequent Offering II.

The share capital increase pertaining to the new shares issued in the Subsequent

Offering II has now been registered with the Norwegian Register of Business

Enterprises.

The Company's share capital has consequently been increased with NOK

7,591,893.75 to NOK 139,909,054.75. The Company's new registered share capital

is NOK 139,909,054.75 divided into 1,119,272,438 shares, each with a nominal

value of NOK 0.125.

The new shares will be delivered to the respective investors today, 31st of

March 2017, before opening.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

Stavanger, 31st March 2017

For further information, please contact:

Gunnar Dolven, CFO, cell phone +47 908 53 168

Marcus Hansson, COB, cell phone +44 782 4460 691

www.bxpl.com