The change of name from Svenska Capital Oil to Misen Energy AB (publ.) is now accomplished.
Svenska Capital Oil AB has now changed its name to Misen Energy AB (publ.).
The company shares will be traded under the new name at First North from May 9, 2012.
A new website will be published at www.misenenergy.se during the month of May.
At the Extraordinary General Meeting in Svenska Capital Oil AB on 13 April the participating shareholders resolved to change the company name to Misen Energy AB (publ.) from previous name Svenska Capital Oil AB (publ.).
The rational behind the change of the company name is that the new name better is in line with the company operations after the acquisition of Misen Enterprises AB. The company activities are via the partnership in a new Joint Activity inUkrainefocusing on gas extraction from earlier oil exploration.
The new name is registered by the Swedish Companies Registration Office on 2 May 2012.
The company shares will be traded at First North under the new name Misen Energy and with the identification MISE from 9 May 2012.
Later during May the company web address will be changed to www.misenenergy.se and during a transition period there will be a link from the earlier web page o the new one.
For further information please contact:
Leif Larsson, CEO
tel 46 31 759 50 71
mobile 46 708 40 82 71
e-mail leif@capital oil.se
Svenska Capital Oil under change of name to Misen Energy is a Swedish oil and gas exploration and extraction company with operations in Ukraine. The company was founded in 2004 and the share is since 12 June 2007 traded on NasdaqOMX First North.
In 2011 the company acquired Misen Enterprises AB and its Ukrainian subsidiary, KarpatyGaz, including the rights of 50,01 % of the revenue and profit from a gas production project in Ukraine, which will provide the company with essential gas and oil assets. As consideration of this acquisition a new share issue was performed.
The gas extraction assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement (the "JAA") between the wholly owned subsidiaries of Capital Oil, i.e., Misen Enterprises AB and Karpatygaz and Ukrgazvydobuvannya, the largest producer of natural gas in Ukraine and subsidiary of the publicly owned company Naftogaz Ukraine. The value of the assets has been assessed by PwC in Ukraine and is estimated to be significantly more than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by implementing new technology and a large-scale investment program.
The company's management has extensive experience in the oil industry both in the former Eastern bloc and in the rest of the world, including prospecting as well as production and sale of oil.
The registered office of Svenska Capital Oil under change of name to Misen Energy is in Stockholm and the shares are traded on First North under identification COIL. The Certified Adviser of the company at NasdaqOMX First North is Thenberg & Kinde Fondkommision AB.
For further information please visit our web site www.capitaloil.se.