SVENSKA CAPITAL OIL AB (publ)Org. Nr. 556526-3968 Interim Report January - June 2011
| As been informed to the market earlier Svenska Capital Oil AB will from 2011 and until further issue financial | ||||||||||||
| reports twice per year, one semi-annual and one full year report. | ||||||||||||
| Essential events during the first half of 2011 | ||||||||||||
| - The operating income was - 2 638 KSEK (-4 144). The improved operating income is owed to the divestiture of the | ||||||||||||
| Ukrainian subsidiary with effect from end of 2010. | ||||||||||||
| - Total net sales amounted to 0 KSEK(0). | ||||||||||||
| - Net result per share in the first six months of the year amounted to - 0,01 SEK (-0,02). | ||||||||||||
| - New Board of Directors was appointed at the Annual General Meeting in June. | ||||||||||||
| - Agreement was reached to acquire all shares in Misen Enterprises AB. | ||||||||||||
| - The Annual General Meeting in June approved the acquisition of Misen Enterprises AB and its Ukrainian | ||||||||||||
| subsidiary KarpatyGas whereby Svenska Capital Oil AB will get an issue in kind amounting to 1 billion SEK composed by | ||||||||||||
| gas and oil assets in Ukraine. | ||||||||||||
| - Further the Annual General Meeting mandated the Board of Directors to issue maximum 5 billion | ||||||||||||
| shares until the close of next Annual General Meeting. | ||||||||||||
| Essential events after the first half of 2011 | ||||||||||||
| - The full realisation of the acquisition of Misen Enterprises AB and thereby connected issue in kind is under completion | ||||||||||||
| and is estimated to be finalised by September 2011. | ||||||||||||
| Next interim report, the full year interim report for 2011, will be issued on February 24, 2012. | ||||||||||||
For further information please contact::
Leif Larsson, CEO Lennart Claesson,CFO tel + 46 31 759 50 71 tel. + 46 31 759 50 72 mobile + 46 708 40 82 71 mobile + 46 705 70 70 32 E-mail: leif@capital oil.se E-mail: lennart@capital oil.se
Svenska Capital Oil is a Swedish oil and gas exploration and production company. Its business idea is to identify and explore oil and gas fields in Ukraine. The strategy of the company is to find undeveloped fields demanding capital injection for start of production. The company will explore the fields with modern technology. The produced gas and oil will be sold locally or on the world market. By the divestiture of the Ukrainian subsidiary the cooperation with the public companies BNG and ZUG was terminated and the activities are now focusing on establishing production cooperation with other Ukrainian partners within oil and gas production. This moves the focus of the activities in Capital Oil from the exploration area to the less uncertain production area.
The management in Capital Oil has great experience in the oil business in Eastern Europe and in the rest of the world including exploration as well as production and oil trading.
The residence of Capital Oil is in Gothenburg and the shares are traded on First North under identification name COIL. The Certified Adviser of the company at NasdaqOMX First North is Thenberg & Kinde Fondkommission AB.
For further information, please visit our web site: www.capitaloil.se
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