Letter of intent for the financing of Selena Oil & Gas Holding AB (Publ.)


Selena Oil & Gas Holding AB (publ) has today entered into an
agreement with an investor consortium on a guarantee of an issue of new
shares that provides the Company equity capital. The issue proceeds will
be used for the financing and development of the activities of the oil
fields Fedortsevskoye, Kuliginskoye and Borkmosskoye, all located near
the oil town of Perm in the Russian Federation.


The consortium, which has headquarters outside Sweden, intends to
guarantee an issue of new shares that will provide the Company with SEK
35 million. Terms of the issue involves a valuation of the Company of
USD 295 Millions after the completing the transaction. The Letter of
Intent is conditional to the positive outcome of due diligence. The
issue of new shares is within the Board\'s authorization from the
Company\'s Annual General Meeting in 2014.

It is the intention that after due diligence, finalize negotiations and
enter into a binding agreement. The objective is to complete this
process within the next two weeks.

\- This is a great opportunity for Selena Oil & Gas Company to
increase pace and it is an expression of confidence in our strategy,
says Magnus Stuart, CEO of Selena Oil & Gas Holding AB. With this
financing, Selena Company now has the opportunity to increase its daily
production by over 400 barrels, at a favorable timing, as current
exchange rate of Rubles has reduced the Company\'s cost of CAPEX by 35%.
The funding ensures that the Company can meet all its license
obligations.

 

For further information, please contact:

Magnus Stuart, Managing Director

mobile +46 706 211 350,

e-mail: magnus.stuart@selenaoil.com

 

Selena Oil & Gas Holding AB (Publ) (former Emitor Holding AB) is
engaged in the exploration, and production of oil and gas in the
Volga-Ural region in the Russian Federation, around Perm. The Company´s
shares are temporarily not publicly listed, but the Company observes all
rules, practices and policies for any company subject to public listing.
Selena Oil & Gas Holding AB are in process of seeking for a new
listing. Mangold Fondkommission serves as before as the company´s
Adviser on public information.

Attachments

Pressrelease_FinX_ENG_150320_0288b.pdf