Pressrelease 2012-08-28 New CEO in Misen Energy AB is appointed.
As earlier announced Mr Leif Larsson will leave his position as CEO in Misen Energy AB. This will be affected from August 31, 2012. The Board of Directors now has appointed the Chairman of the Board, Mr Tore I. Sandvold, also to be CEO in Misen Energy AB as from September 1, 2012 until further
Efforts to find a permanent CEO for Misen Energy AB are in process.
For further information please contact:
Leif Larsson, CEO
tel 46 31 759 50 71
mobile 46 708 40 82 71
e-mail leif@misenenergy.se
Misen Energy AB (former Svenska Capital Oil AB) 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 Misen Energy AB 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 Misen Energy AB, 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 registered office of Misen Energy AB( former Svenska Capital Oil AB) is in Stockholm and the shares are traded on First North under identification MISE. 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.
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