AOAG Initiates Major Funding Using International Investment Bankers

Arctic Oil & Gas will work with international investment bankers to obtain the first two major rounds of funding for corporate and technical development. These funds will be used to finalize Arctic's claim on the "Arctic Commons," along with beginning the technical assessment of the hydrocarbon resources within the region.

The Company's investment bankers are currently in Europe working with funding resources who have already expressed strong positive interest in Arctic and its "Arctic Commons" drilling project. The Company expects to be able to announce the receipt of the first round funding in the upcoming weeks.

Peter Sterling, Arctic CEO, stated, "We are extremely pleased with our investment bankers and expect great things from them, both in this early level funding and when it is time to supply large funding for EM and seismic data acquisition and, of course, later for drilling. The relationships that these people bring to us are extremely strong and have been built over a number of years, plus they are very savvy to oil and gas development."