MISEN ENERGY AB

Misen Energy AB (publ) is a Swedish public limited liability company with its registered offices in Stockholm. Misen Energy AB (publ) was founded in 2004 and its shares have been traded on First North List at NASDAQ Stockholm since 12 June 2007. During the period from 2005 to 2010, Misen Energy AB (publ) was engaged in the development of geo resources in Ukraine. As the former wholly owned subsidiary LLC Capital Oil Ukraine was sold on 30 December 2010, the Company's oil exploration in Ukraine c... ame to an end. The business concept of Misen Energy AB (publ) is to develop and significantly increase production in gas and oil fields by implementation of large-scale investment programmes and introduction of modern western knowhow and technology. These programmes include the development of new and redevelopment of old gas fields, well workover in order to enhance production, investments in new technology (e.g. construction of compressor stations), and development of high viscosity crude oil fields. Misen Energy AB (publ) as the Parent Company of the Misen Group is a Swedish holding entity for the subsidiaries operating in Ukraine. The Parent Company’s focus is to undertake Misen Group wide tasks and, together with its subsidiary Misen Enterprises AB, when required, to ensure finance provision for operations in Ukraine. From 2011, the business has focused on gas exploration in a new cooperation project, the Joint Activity with the Public Joint Stock Company Ukrgasvydobuvannya in Ukraine. Under this revised business focus, all shares in the Swedish company Misen Enterprises AB and its wholly owned Ukrainian subsidiary LLC Karpatygaz were acquired in 2011. The consideration price for this acquisition was settled by a new issue of fully paid shares resulting in the shareholders of Misen Enterprises AB acquiring control of Svenska Capital Oil AB (publ) which in turn led to the name change to Misen Energy AB (publ). Misen Energy AB (publ) shareholders have appointed an independent and experienced Board of Directors and have taken steps in recognising the importance of introducing a corporate culture, which will achieve and combine the desire to optimise company growth and returns to shareholders consistent with the most appropriate technological oil and gas field practice, health and safety policies and social and environmental awareness. The Company is listed on the First North List at NASDAQ Stockholm under the ticker MISE. The Misen Group comprises Misen Energy AB (publ) and two wholly owned subsidiaries Misen Enterprises AB (Sweden) and LLC Karpatygaz (Ukraine). Via these two subsidiaries, the Misen Group holds 50.01% interest in the Joint Activity in Ukraine. The Misen Group also includes the wholly owned subsidiary Capital Oil Resources Sweden AB (Sweden), which is dormant. Consolidated accounts as of 1 July 2011 represent the Misen Group. The structure of the Misen Group remains the same since 1 July 2011.More