United Energy Group completes acquisition of Pakistani oil exploration and mining business

Abstract United Energy Group (00467) issued an announcement regarding the acquisition of Pakistani oil exploration and mining business, namely the acquisition of the entire share capital of ASIARESOURCESOILLIMITED. The prerequisites in the share purchase agreement were on April 17, 2018...

United Energy Group (00467) issued an announcement regarding the acquisition of the Pakistan Petroleum Exploration and Mining business, which is the acquisition of the entire equity interest in ASIA RESOURCES OIL LIMITED. The conditions precedent in the Share Purchase Agreement were reached on April 17, 2018. The Vendor and the Purchaser agreed to the acquisition. The matter was completed on April 17, 2018.

It is reported that ASIA RESOURCES OIL LIMITED has entered into relevant oil exploration licenses and petroleum concession agreements in Pakistan and holds certain mining interests in exploration licenses and concession agreements in the three concessions of Gambat South, Kotri North and Naushahro Firoz in Pakistan.

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