Hunter Group ASA - Share Issue/Capital Change 2014

Badger Explorer ASA Establishes a New Option Program for Employees

On 17th February 2014 the Board of Directors of Badger Explorer ASA has

agreed to replace the previous share option program and implement a new

option program for employees offering a total of 213,000 share options,

corresponding to 1.15% of all outstanding BXPL shares.

The following primary insiders have been offered options:

Thor Arne Håland: 24,000 share options

Øystein Larsen: 24,000 share options

Samanta Cerniavskaja: 18,000 share options

The options granted will be vested in tranches and can be exercised at

the earliest 12 months subsequent to the date of grant and thereafter at

up to 2 occasions during each calendar year, between three and 10 days

after publications of the Company's Q1 and Q3 quarterly results. Upon

exercise of options, the option holder shall pay the Company a price of

7.51 NOK per option share.

Subsequent to the exercise of options, ordinary shares in the Company

will be issued to the option holders through an increase of the share

capital pursuant to the authority granted by the Company's Annual

General Meeting, held on 17th April 2013.

Stavanger, 20th February 2014

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

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