This company is part of the Niel Group, a diversified Luxembourg consortium active in the fields of energy, mining, telecoms, infrastructure and financial services.

In September of 2013, Niel announced its intention to take a majority stake in New World Oil and Gas Plc (an AIM-listed company) (“New World”), through a US$ 25 million subscription of newly issued New World shares.

As part of its development strategy, Niel Petroleum SA have concluded earlier today a partnership with a Al Maraam Al-Ahliya Company for General Trading and Contracting LLC (“Al-Maraam”), a Kuwait LLC that is licensed to drill for, produce and store oil and gas in Kuwait, as well as to market and sell Kuwait crude internationally. As part of Niel’s partnership with Al Maraam, Dr. Muaaz Alfahaid (shareholder of Al-Maraam) will be subscribing to 20% of Niel’s capital for US$20 million.

This capital increase will allow Niel Petroleum SA to finalize its subscription in New World Oil and Gas Plc., and become its majority shareholder with approximately 75% of its issued shares (at the time of the completion of such subscription).

The conclusion of the agreement between Niel Petroleum SA and Al-Maraam, and between Niel Petroleum SA and New World Oil and Gas Plc is combined with another significant agreement. New World has agreed acquire (subject to the fulfillment of certain contractual obligations) a 60% financial interest and 49% of the issued shares in Al-Maraam for an amount of EUR 5 million. The main goal of this acquisition is to combine the potential of Al Maraam’s license with the management expertise and experience of New World’s management team to derive the maximum economic benefit for Al Maraam and its shareholders.

The association of Niel, New World and Al-Maraam will create a dynamic group bringing together the technical and financial expertise necessary for the enhancement of the value held by Al-Maraam in Kuwait.

These transactions are expected to help Niel develop its existing projects more efficiently and expose it to new exciting markets, creating value for Niel’s shareholders.