Misen Energy AB (publ) denies criminal allegations of the Ukrainian authorities

On 26 October 2016 Pechersk District Court in Kyiv issued an order barring the
sale or transfer of engineering equipment for oil and gas production owned by
the Participants to Joint Activity under Joint Activity Agreement No. 3 of
10.06.2002, as amended and restated (the “JAA”). The court prohibited LLC
Karpatygaz, a partially owned subsidiary of Misen Energy AB (publ), from
disposing in any manner of that equipment. The court ruling does not impose any
restriction on the use of the assets of the Joint Activity. LLC Karpatygaz
continues performing its obligations and, thus, implementing joint activities in
Ukraine in accordance to the JAA. LLC Karpatygaz intends to appeal against the
court ruling in the Court of Appeal in Kyiv city.

The order was issued in the context of a criminal investigation initiated by a
complaint filed by Public Joint Stock Company Ukrgasvydobuvannya
(“Ukrgazvydobuvannya PJSC”) on 5 September 2016. Ukrgazvydobuvannya is a
Participant in the JAA and a party to an ongoing arbitration proceeding
concerning disputes between it and LLC Karpatygaz and Misen Enterprises AB.
Karpatygaz LLC and Misen Enterprises AB consider the allegations of
Ukrgazvydobuvannya in the criminal investigation to be ungrounded and deny them
in their entirely.

LLC Karpatygaz and Misen Enterprises AB have been always cooperative with the
investigation authorities and are ready to evidence the legitimate nature of the
joint activities in Ukraine. Market will be updated on the further developments.
For further information, please contact:

Göran Wolff, MD

Direct line: +46 31 759 50 72
Mobile:      +46 709 45 48 48
E-mail:       goran@misenenergy.se (%67%6f%72%61%6e@%6d%69%73%65%6e%65%6e%65%72%
6 
7%79.%73%65)

 info@misenenergy.se (%69%6e%66%6f@%6d%69%73%65%6e%65%6e%65%72%67%79.%73%65)
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 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 First North is Consensus Asset
Management AB (formerly Thenberg & Kinde Fondkommission AB).
For further information, please visit our website www.misenenergy.se.

This information is information that Misen Energy AB (publ) is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was submitted
for publication, through the agency of the contact person set out above, at
15:00 CET on 31 October 2016.