INCORPORATION OF NEW SUBSIDIARY

Singapore, 13th January 2010 The Board of Directors of EOC Limited ("EOC") wishes to announce that EOC has acquired the entire issued and paid-up share capital of the following company for US$1.00:- 1. Emas Offshore Production Services (Vietnam) Pte Ltd. The company has a share capital of USD1.00 comprising 1 ordinary share of USD1.00. The above company is now a wholly-owned subsidiary company of EOC Limited.