Press releases in English

2014 September 17

Report on sales and gas balance from Misen Energy AB (publ)

As of mid-September 2014, Misen Energy AB (publ) and its subsidiary LLC Karpatygaz have negotiated sales of 122.4 million cubic meters (mmcm) of natural gas. This volume comprises production of August and planned production for September.

In addition, a separate agreement has been reached regarding sales of natural gas kept in the underground storages in the volume of 160 mmcm, thus leaving the unrealized inventory at the level of 186 mmcm, what corresponds to approximate accumulated production of 3 months. The unrealized inventory represents a mix of natural gas produced in 2013 and 2014.

The abovementioned sales will allow LLC Karpatygaz to continue payments associated with the JA debts. This will also allow Misen to continue with the currently delayed investment program and it further strengthens notion that the situation with production to storage will be discontinued, and thus decreases uncertainty for the future business and going concern.

For further information, please contact:

Göran Wolff, MD

Direct line:  +46 31 759 50 72
Mobile:        +46 709 45 48 48

Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on NASDAQ OMX First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine. Under IFRS rules, this transaction is classified as a reverse takeover. In consideration of the acquisition, a new share issue was carried out.
The gas producing assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement between the wholly-owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine. The value of the assets is estimated to be substantially higher than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program. The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on First North under identification ticker MISE.
The Certified Adviser of the company at NASDAQ OMX First North is Consensus Asset Management AB (formerly Thenberg & Kinde Fondkommission AB). For further information, please visit our website

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