Malka Oil's rights issue is fully subscribed and the guarantor undertakings did not need to be utilised. Through the rights issue Malka Oil will receive proceeds of approximately SEK 141 million before issue expenses. 94.9 percent of the total issue, corresponding to 1,911,171,678 shares, was subscribed for with subscription rights. In addition, subscriptions of 1,775,582,457 shares, without subscription rights were received. Of the shares subscribed for without subscription rights, 101,905,362 shares have been allocated to subscribers based on the principles described in the prospectus dated March 26, 2009. Thus, the rights issue was oversubscribed by 88.2 percent. As a result of the rights issue, the number of shares in Malka Oil will increase by 2,013,077,040 and the share capital will increase by SEK 100,653,852. After the rights issue the share capital will amount to SEK 436,166,692 divided on 2,349,025,680 shares. Since the rights issue is fully subscribed, the final condition for early conversion of the entire outstanding convertible bond debts is fulfilled, the number of outstanding shares will increase with another 1,678,000,000. Thereafter, the total number of outstanding shares will correspond to 4,026,589,880 shares, each with a quotient value of SEK 0.0667. Trading in the new shares is expected to commence on NASDAQ OMX First North on Thursday April 30, 2009. Financial and legal advisors HQ Bank is Malka Oil's financial advisor. Advokatfirman Delphi is legal advisor. For further information, please contact: Fredrik Svinhufvud, Managing Director Malka Oil, tel +46 8 5000 7811, mobile +46 708 708 708 For further information about Malka Oil AB, see the website www.malkaoil.se. Malka Oil AB (publ) is an independent oil and gas production company operating in the Tomsk region in western Siberia. Their current position consists of oil and gas assets for licence block number 87 in the said region. The block has a surface of 1,800 square kilometres. There are currently three oil fields at the licence block, namely Zapadno-Luginetskoye ("ZL"), Lower Luginetskoye ("LL") and the Schinginskoye oil field, and a large quantity of other not yet drilled oil structures. The ZL and LL oil fields are in production and these two oil fields have during 2007 went through reserve classification by the Russian State Committee of Reserves (GKZ) and during spring 2008 a Western reserve study made by DeGolyer and MacNaughton. The GKZ registered extractable oil and condensate reserves in the categories C1 and C2 amounted to 97 million barrels at the end of 2007. The company's own estimate of its extractable oil and condensate reserves, C1+ C2, in the three existing oil fields on licence block number 87 is currently 140-190 million barrels. The Western reserve study estimation as of April 30, 2008 amounted to 43.5 million barrels 2P and 90.6 million barrels 3P oil reserves. Malka Oil's licence block is surrounded by a large number of producing oil and gas fields. Reasonable caution notice: The statement and assumptions made in the company's information regarding Malka Oil AB's ("Malka") current plans, prognoses, strategies, concepts and other statements that are not historical facts are estimations or "forward looking statements" concerning Malka's future activities. Such future estimations comprise but are not limited to statements that include words such as"may occur", "concerning", "plans", "expects", "estimates","believes", "evaluates", "prognosticates" or similar expressions. Such expressions reflect the management of Malka's expectations and assumptions made on the basis of information available at that time. These statements and assumptions are subject to a large number of risks and uncertainties. These, in their turn, comprise but are not limited to i) changes in the financial, legal and political environment of the countries in which Malka conducts business, ii) changes in the available geological information concerning the company's projects in operation, iii) Malka's capacity to continuously guarantee sufficient financing to perform their activities as a "going concern", iv) the success of all participants in the group, or of the various interested companies, joint ventures or secondary alliances, v) changes in currency exchange rates, in particular those relating to the RUR/USD rate. Due to the background of the many risks and uncertainties that exist for any oil-prospecting venture and oil production company in its initial stage, Malka's actual future development may significantly deviate from that indicated in the company's informative statements. Malka assumes no implicit liability to immediately update any such future evaluations.