Badger Explorer AS announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of NOK 1,736,000 against NOK 3,610,000 a year ago. LBITDA was NOK 4,648,000 against NOK 3,959,000 a year ago. Net loss for the period was NOK 5,098,000 against NOK 4,172,000 a year ago. Net loss per share was NOK 0.29 against NOK 0.23 a year ago. Operating loss was NOK 5,118,000 against NOK 4,381,000 a year ago. Loss before taxes was NOK 5,098,000 against NOK 4,172,000 a year ago. Loss attributable to equity holders of the parent was NOK 5,296,000 against NOK 4,293,000 a year ago. Net cash used in operating activities was NOK 6,487,000 against NOK 5,760,000 a year ago. Decrease in Revenue was primarily due to reduced non-BXPL income at CEL.

Badger Explorer AS announced that the company annual general meeting, held on April 17, 2013, the shareholders elected Hitde Christiansen and David S. Ottesen as board members, until the AGM in 2015.

Badger Explorer AS announced to avoid a deadlock in relation to board resolutions, the board proposed to amend 5 of the company's Articles of Association by deleting "In the event of a equal votes the Chairman shall not hold a casting vote" to its upcoming annual general meeting going to be held on April 17, 2013.