UNITEDENERGY GP (00467) intends to acquire all issued shares of AIEH I Company.

UNITEDENERGY GP(00467) announcement released on February 7, 2025, the buyer United Energy (MENA) Limited (a wholly-owned subsidiary of the company) and the seller Apex International Energy L.P. and guarantor KEP (a wholly-owned subsidiary of the company) have signed a "Share Purchase Agreement". According to the Share Purchase Agreement, the buyer conditionally agrees to acquire, and the seller conditionally agrees to sell, the target shares. KEP has agreed to guarantee the buyer's payment obligations related to the Share Purchase Agreement. The target shares represent the entire issued share capital of AIEH I. AIEH I is engaged in upstream oil and gas exploration and production activities in Egypt, where the group has a significant presence. Acquiring AIEH I is an extension and expansion of the group's upstream business in Egypt, and it can work synergistically with existing assets. This acquisition will enable the group to expand its reserves base and increase production levels, contributing to economic growth and prosperity in Egypt. AIEH I currently holds 8 onshore production concessions in the Western Desert region of Egypt, with an average equity daily production exceeding 11,000 barrels in 2024.