Saga Oil ASA

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 7 November, 2008)

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, October 31, 2008)

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 6 October 2008)

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 23. September, 2008)

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 15 September, 2008)

Saga Oil ASA (OSL:SAGA.OTC) The newly elected board of SAGA Oil ASA held meeting today September, 3. 2008. The Board has started working to clarify the circumstances pertaining to the previously issued convertible loan where the shareholders were subjected to de jure discrimination. The Board hopes to establish the necessary finance within a short period of time. A foreign industrial company has taken interest in SAGA Oil ASA` Russian subsidiary. The Board will immediately proceed with the aim to enter into negotiations with this company.

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 2. September, 2008)

Saga Oil ASA (OSL:SAGA.OTC) (Stavanger, 22August, 2008)

Saga Oil ASA A Bondholders meeting where held July 21st 2008 at Norsk Tillitsmann in Oslo. The bondholders accepted the terms that SAGA Oil ASA proposed regarding the postponement of the maturity date of ISIN NO 001 032 223.3 12.00 per cent SAGA Oil ASA Bond Issue 2006/2008 Call and Warrants until October 31st 2008.

Saga Oil ASA After due consideration of current challenges, SAGA Oil ASA's board has agreed with current CEO Malvin Høydal that Mads Grinrød is hired as new CEO of SAGA Oil as of today. Mr Høydal will now work in a newly established position as VP SAGA Corporate affairs, Russia, with focus on further developing SAGA Oils Russian operations and bringing the wells on stream.