Hunter Group ASA

Øystein Larsen appointed new CEO of Badger Explorer ASA

The Board of Directors of Badger Explorer ASA (BXPL) is pleased to announce the

appointment of Øystein Larsen as the new Chief Executive Officer effective from

20th January 2016. Mr. Larsen has previously held the position as Chief

Technical Officer of BXPL and has been working for the Company since 2009. Mr.

Larsen succeeds Steinar Bakke, who after having lead the Company for the last

2.5 years, will retire after reaching the age of 67. Mr. Bakke will assume the

position as Senior Advisor focusing on Sponsoring Partners and Industrial

Partnerships.

"We are delighted Øystein Larsen has accepted the position as the new CEO given

his strong expertise and long experience of working with the development of the

Badger Tool", said Marcus Hansson, Chairman of the Board of BXPL. "We are

equally delighted to see Steinar Bakke remains with the Company focussing on our

important partnerships. Both appointments continue our drive to achieve

technical progress and commercial operations as soon as possible."

Mr. Larsen holds a M.Sc. in Cybernetics and signal processing from the

University of Stavanger.

"It will be a great opportunity for me", said Mr. Larsen. "Given the competent

organisation of BXPL and the strong relationship with all our partners and

suppliers, I am confident we will take further important steps towards

commercialisation in the near future".

Mr. Bakke said: "I have had an active role in promoting Øystein Larsen as my

successor and I am convinced he will be a competent leader while he continues to

play a key role in the technical development".

Stavanger, 19th January 2016

For further information, please contact:

Marcus Hansson, Chairman of the Board, cell phone +44 782 446 0691

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