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  • The Extra General Meeting in Capital Oil on November 17 is postponed and a new Extra General Meeting will be on December 21, 2011.
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The Extra General Meeting in Capital Oil on November 17 is postponed and a new Extra General Meeting will be on December 21, 2011.

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The Extra General Meeting in Capital Oil to be held on Thursday 17th of November is postponed. The reason is that the Election committee requires more time to be able to present a proposal for a new Board of Directors.

A new Extra General Meeting will be held on Wednesday 21st of December 2011. Summon to this General Meeting will be published in beginning of next week.

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

Capital Oil is a Swedish oil and gas exploration and extraction company with operations in Ukraine. Capital Oil was founded in 2004 and the Capital Oil share is since 12 June 2007 traded on NasdaqOMX  First North.  

In 2011 Svenska Capital Oil 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 inUkraine, which will provide Capital Oil with essential gas and oil assets. As consideration of this acquisition a new share issue was performed.  

The gas extraction assets are 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 PriceWaterhouseCoopers inUkraineand is estimated to be essentially more than the purchase price for Misen.  

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 residence of Capita Oil is in Gothenburg 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.

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