Hunter Group ASA — Proxy Solicitation & Information Statement 2010

Mar 30, 2010

To: Annual General Meeting in Badger Explorer ASA

From: Nomination Committee of Badger Explorer ASA

Stavanger, 15 March 2010

The Nomination Committee's Report and Recommendations to the General Meeting in 2010

General:

The composition of the Nomination Committee of Badger Explorer ASA follows the guidelines of the Norwegian Code of Practice for Corporate Governance (5th edition, 21 October 2009). The work of the Nomination Committee has been carried out in accordance with the same Code of Practice.

The Work of the Nomination Committee:

The Nomination Committee held two scheduled meetings during the year. Representatives from the Nomination Committee have also held meetings with numerous shareholders of Badger Explorer ASA in London, Oslo, Stavanger and Bergen. The Members of the Board of Directors have carried out an evaluation of its own performance and competence including an evaluation of the composition of the Board and its function both individually and as a group in relation to the Company's objectives. This report has been available to the Nomination Committee.

Recommendations:

The Nomination Committee proposes the following candidates as Board Members:

Christian Bull Eriksson Director, re-elected until AGM in 2012

Kristine Holm Director, re-elected until AGM in 2012

The Nomination Committee proposes the following candidates as members of the Nomination Committee:

Rolf E. Ahlqvist Member, re-elected until AGM in 2012

Knut Åm Member, re-elected until AGM in 2012

On behalf of the Nomination Committee:

Marcus Hansson (Chairman)

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A Brief Presentation of the Proposed Board Members

Christian Bull Eriksson (born 1956)

Board member since 2008 - proposed re-election until AGM in 2012

Mr. Bull Eriksson holds a MSc from NTNU Norway. Mr. Bull Eriksson is currently the chairman of the Board and Managing Director of IK Group AS. He has extensive experience from the Oil & Gas industry and has held a number of executive positions in the Oil & Gas industry, including Managing Director of PSI (2002-2006) and CEO of Smedvig ASA (1999-2002). Other board positions include Director in Multi Phase Meters (MPM) and Vertech Offshore AS.

Kristine Holm (born 1957)

Board Member since 2007 - proposed re-election until AGM 2012

Ms. Holm is a graduate geologist from the University of Bergen. Ms. Holm holds the position as Deputy Manager for North Sea Business Unit in Total E&P Norge. She is also a board director of TOTAL E&P Norge. She was previously Manager for the North Sea Department within the Geoscience division at Total E&P Norge, Exploration area manager in TOTAL E&P Norge and Exploration Area manager in TotalFinaElf Exploration Norge. She has extensive experience after having worked for more than 25 years in the Oil & Gas industry, including various positions within geology in Elf Petroleum Norge and the Elf Group's Technical and Research Center in France.