According to the Scheme of Arrangement required to implement the acquisition all required resolutions have now received the necessary majorities and have been approved. The Court Hearing of Genesis’s petition to sanction the Scheme was received on 1 September 2009. The cancellation of admission of Genesis Shares to trading on AIM took place on the Scheme Effective Date 2 September 2009. The acquisition has accordingly been fully in line with the Scheme Document.

As a matter of formality the Proposal remains subject to the terms and conditions set out in the Scheme document being fulfilled before 17 December 2009.

Through the acquisition, Bayerngas Norge AS makes a major leap forward. Genesis is active in the UK and in Norway and has a highly qualified staff. Bayerngas will use the foothold in the UK to further expand activities on the UK Continental Shelf. The staff in Norway will strengthen activities in Norway and represents an important contribution to Bayerngas Norge as the company now moves towards operatorship.

- I am very happy to see that the Shareholders of Genesis Petroleum share our vision of future business opportunities and, I am happy to welcome all Genesis employees to the Bayerngas Group. We are now even better positioned than before and aim to continue to expand our activities in the future, says Arne Westeng, managing director of Bayerngas Norge AS.

For further information please contact

Arne Westeng

Managing Director

Telephone (+47) 22 52 99 02/ (+47) 40 44 91 02