Hunter Group ASA

Badger Explorer ASA - Mandatory Notification of Trade

Reference is made to the EGM in Badger Explorer ASA ("the Company") on 23rd

February 2017, where the share capital increase in connection with the Private

Placement of 600,000,000 new shares in the Company (the "Private Placement") was

approved, as well as the Subsequent Offering of up to 80,000,000 new shares in

the Company that commenced on 15th February 2017 and expires on 27th February

2017 (the "Subsequent Offering").

This disclosure is made in accordance with Section 4-3 of the Norwegian

Securities Trading Act. As a result of the completion of the Private Placement,

the ownership for the Chairman of the Board of Director's Marcus Hansson and

close associates will fall below 5% of the outstanding shares and votes, and

below 5% assuming the Subsequent Offering is completed.

Marcus Hansson and close associates have been allocated 1,000,000 shares in the

offering and will own a total of 21,616,668 shares in the Company after the

Private Placement, equivalent to 2.22% of the outstanding shares and votes after

the Private Placement. Assuming that the Subsequent Offering is completed,

Marcus Hansson and close associates will own 2.04% of the outstanding shares and

votes.

In connection with the Private Placement, Marcus Hansson and close associates

entered into lock-up agreement on their shareholdings after the Private

Placement lasting until 1st August 2017.

The above calculations are based on 978,537,288 outstanding shares in the

Company after completion of the Private Placement and 1,058,537,288 outstanding

shares in the Company after the completion of the Subsequent Offering.

Stavanger, 23rd 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

AI Terminal