Hunter Group ASA

Regulatory Filings • Apr 30, 2015

Badger Explorer ASA - Ongoing Partner Negotiations / Auditor's Report 2014

Badger Explorer ASA - Ongoing Partner Negotiations / Auditor's Report 2014

Badger Explorer ASA (BXPL) is currently negotiating participation in the Badger

Development Program 2015-2017 and related funding with two major oil companies.

Agreements are yet not signed, but indicative commitments have been given. BXPL

expects to have the signatures later this year and thereby secures a going

concern position.

Reference is made to BXPL's stock exchange notice published on 14th April 2015

related to the Annual General Meeting (AGM) to be held at the Company's premises

at Forusskogen 1, 4033 Stavanger, Norway on 5th May 2015 at 10:00 CET.

Enclosed is the auditor's report for 2014 which has been issued today. The

auditor's report highlights "Emphasis of matter", i.e. the current cash position

at BXPL "indicates the existence of a material uncertainty about the Company's

ability to continue as a going concern".

Additional information will be given at the AGM.

Stavanger, 30th April 2015

For further information, please contact:

Steinar Bakke, CEO, cell phone +47 930 70 466, office +47 52 97 45 50

Gunnar Dolven, CFO, cell phone +47 908 53 168, office +47 52 97 45 40

www.bxpl.com