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Badger Explorer ASA listed on Oslo Axess

The Badger Explorer idea was born in 1999 among researchers at Rogalandsforskning (now International Research Institute of Stavanger (“IRIS”), based on IRIS’ 20-year long and extensive experience of research and development within drilling and well technology. The Company was incorporated in June 2003.

Badger Explorer ASA is still in a pre-commercial phase. In 2005 the project was fully-financed through Norges Forskningsråd, industrial sponsors Shell, Exxon, Statoil and NOK 70 million in equity.

With the proceeds from the Initial Public Offering of NOK 160 million, the company has strengthened the Balance Sheet significantly with a net cash position above NOK 200 million. The Board of Directors expects the company to be fully funded to develop and commercialise both the Badger Explorer and the electrical based PCD technology.

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