As previous informed in a Press Release on December 1, 2009, Malka
Oil has entered into a binding term sheet with Gazprom Neft for the
sale of the subsidiary LLC STS-Service. In another press release of
even date and a published notice to an Extraordinary General Meeting
December 17, 2009, it was also informed that (1) the parties are to
enter into a share purchase agreement based on the term sheet and (2)
that an information memorandum about the transaction would be
available no later than December 11, 2009. Negotiations are still
ongoing between the parties. No information memorandum has therefore
been finalized. The share purchase agreement is anticipated to be
signed no later than December 14, 2009, after which, the information
memorandum will be made available.
At an Extraordinary General Meeting December 17, 2009, the Board will
answer questions and give details of the transaction, as well as
respond to the allegations that have appeared recently in the media
about alternative bids.
For further information, please contact:
Maks Grinfeld, MD, tel: +46 768 077 614
Sven-Erik Zachrisson, Chairman of the Board of Directors, tel: +46 8
41 05 45 96
For further information on Malka Oil AB, see the website
www.malkaoil.com
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.
