United Energy Group plc
United Energy Group plc: UEG Sees its Southeast Europe Strategy Reconfirmed
United Energy Group Plc. / Miscellaneous 01.06.2010 11:43 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. --------------------------------------------------------------------------- 'Communiqué by the Republic of Srpska, Serbia, and Italy regarding the joint use of hydroelectric energy on the middle section of the Drina clearly signals the opening of the market for European investors.' Haslemere, United Kingdom, June 1, 2010 - 'The communiqué by the Republic of Srpska, Serbia, and Italy regarding the joint use of hydroelectric energy on the middle section of the Drina clearly signals the opening of the market for European investors,' said Dr. Rolf Haferkamp, CEO of United Energy Group, as he commented the memorandum of understanding signed a few weeks ago by the Economy and Energy Ministers of Serbia, the Republic of Srpska and Italy. He went on to say that the countries bordering the Drina had thus clearly underscored their intentions to develop the energy sector with the help of foreign capital and expertise. The declaration, which was signed between Serbs, Italians and the Republic Srpska specifies the intention for a cooperation between the governments of these countries to jointly develop the hydroelectric potential on the middle section of the river Drina. The treaty calls for the construction of three hydroelectric power plants, 'Dubravica,' 'Tegare,' and 'Rogacic.' According to the signatories, the actual project agreements will signed by the end of the year. 'Our own activities in the Republic Srpska will not be affected by this undertaking because we focus exclusively on the upper Drina,' emphasised Dr. Haferkamp, adding: 'Rather, this treaty bears out the probity of our Southeast Europea strategy, and illustrates that we have committed ourselves to the right country and to the right river.' 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 01.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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