United Energy Group plc
United Energy Group plc: Latest Developments Vindicate Southeast Europe Strategy of United Energy Group
United Energy Group Plc. / Miscellaneous 19.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Dr. Rolf Haferkamp: Latest Developments Vindicate Southeast Europe Strategy of United Energy Group Haslemere, United Kingdom - November 19, 2009 - Dr. Rolf Haferkamp, CEO of United Energy Group plc, feels that the overall strategy that United Energy Groups pursues in Southeast Europe has been borne out by recent events. 'The decision we made little less than a year ago to refocus United Energy Group, and to intensify the development of the South-eastern European energy markets was the right step to take. This is demonstrated by the commitments of RWE and DECOTRA in the Balkans, among other things, as it persuasively bears out our contractually envisioned partnerships with these prominent utilities, and the jointly planned power plant projects.' UEG will therefore continue to focus on the cooperation with powerful partners. Dr. Haferkamp sees major potential in the realisation of private public partnerships. 'The initial investment process in the energy sector that is now getting underway in the Republics of Serbia and Srpska as well as in other South-eastern European countries opens up great opportunities for us to contribute decisively to a secure energy supply in the Balkans. We can represent the market proximity required for this purpose through our subsidiaries in Belgrade and Banja Luka.' As recently as this Tuesday, the utilities RWE and UEG had announced their intention to review joint power plant projects on the upper Drina with a total output of up to 1,000 megawatt. The announcement was preceded by the execution of a German-Serbian energy agreement, on the basis of which RWE will study the feasibility of hydropower projects on the rivers Danube, Morava, and Drina together with the Serbian utility JP Elektroprivreda Srbije (EPS) and the Serbian Government. Just weeks ago, United Energy Group had moreover announced its intention to realise and operate a gas power plant of up to 260 megawatt in the Serbian border town of Loznica together with its strategic partner DECOTRA Engineering d.o.o. (DECOTRA). United Energy Group plc United Energy Group plc is an independent listed energy company. Formed in 2006, the company focused initially on the area of energy production. During the past two years, UEG underwent substantial redevelopment, and operates now in the business areas of Energy Consulting, Energy Trading, and Energy Investments. The company has thereby responded to global market trends as it seeks to make a significant contribution to the energy supply sector, and to help meet the growing energy needs worldwide. Forward-Looking Statements This communication may contain certain forward-looking statements that include declarations of intent, strategies and opinions relating to the future and to the expectations of United Energy Group and its subsidiaries. Any statement contained herein is based on information available on the respective day to the management of UEG; and actual events may vary depending on the occurrence of future events that may or may not be subject to the management's control, including risks and uncertainty factors that may cause the actual outcome to deviate considerably. Such risks and factors include, without being limited to, ramifications that acquisitions may have for the company and its capital structure, exploratory findings, market conditions, the stability of mineral oil and natural gas prices, the uncertainty factors inherent in the operative business of mineral oil and natural gas production, unexpected future investment requirements, competition, statutory provisions, and other factors. Business Network Marketing- und Verlagsgesellschaft mbH Corinna Kaspar Fasanenstr. 47, D-10719 Berlin Tel.: +49 (0)30 - 81 46 46 00 Fax: +49 (0)30 - 81 46 46 046 E-mail: ir@unitedenergy.com 19.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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