Merger talks with NGM Holding

Shareholders in Petrosibir AB are in merger talks with shareholders of NGM Holding.

”Petrosibir is currently successfully completing its exploration program. We have found both oil and gas in our first well. The well has tested commercial flow rates and the results are very encouraging for our future drilling program. NGM Holding on the other hand has divested its operations but holds a listing, which creates a rationale for a merger,” says Petrosibir’s CEO Robert Karlsson.

Petrosibir will review the commercial aspects of a merger and communicate the results of this.

Per Höjgård was elected chairman of NGM Holding at an extraordinary general meeting earlier today. Per Höjgård has a solid background within the oil industry. He is a member of the board of PetroProd Limited and Sweden’s largest oil company Preem AB, where he also served as CFO during seventeen years.

NGM Holding divested all its operations to Börse Stuttgart during the end of 2008.


For further information, please contact:

Robert Karlsson, CEO Petrosibir, tel. +46 709-565 141
www.petrosibir.com