Hunter Group ASA

Share Issue/Capital Change • Jan 16, 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 360,000,000 new shares each

with a nominal value of NOK 0.125, at a price of NOK 0.125 per share (the

"Private Placement").

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

Placement has now been registered with the Norwegian Register of Business

Enterprises.

The Company's new registered share capital is NOK 47,317,161 divided into

378,537,288 shares, each with a nominal value of NOK 0.125.

The new shares will not be admitted to trading on Oslo Axess before a listing

prospectus has been published.

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

-12 of the Norwegian Securities Trading Act.

Stavanger, 16th January 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