We refer to the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016, 24 May 2016, 16 June 2016, 20 June 2016, 4 July 2016, 19 July 2016, 24 August 2016, 5 September 2016, 7 October 2016 and 12 October 2016 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcements.

On behalf of the Board, HLIB and Maybank IB wish to announce that the Company has been notified by MIEH that MIEH has on 28 October 2016 released an announcement on HKEX in relation to, inter-alia, the completion of the drilling of two exploration wells, Dolinnoe-8 and Yessen-3, in third (3rd) quarter of 2016 in compliance with the requirements under the Exploration Contract. Based on the well logging data, Dolinnoe-8 and Yessen-3 indicating O&G shows thickness of 104.0 m and 108.8 m, respectively. Such thickness refers to the thickness of rock with O&G shows indicated from the well logging data. Emir-Oil will carry out further testing on these two wells including production flow in fourth (4th) quarter of 2016.

Please refer to the attached file for a copy of the announcement dated 28 October 2016 released by MIEH.

This announcement is dated 31 October 2016.