Hunter Group ASA

Share Issue/Capital Change • Mar 1, 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 private

placement of 600,000,000 new shares each with a nominal

value of NOK 0.125, at a price of NOK 0.50 per share

(the "Private Placement II").

The share capital increase pertaining to the new shares

issued in the Private Placement II has now been registered

with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK

122,317,161 divided into 978,537,288 shares, each with a

nominal value of NOK 0.125.

The new shares will be delivered to the respective investors

on 1st 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, 28 February 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