United Energy Group plc
United Energy Group plc: United Energy Group plc and DECOTRA Engineering d.o.o. Sign Strategic Partnership Agreement
United Energy Group Plc. / Joint Venture 07.09.2009 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. --------------------------------------------------------------------------- United Energy Group plc and DECOTRA Engineering d.o.o. Sign Strategic Partnership Agreement Haslemere, United Kingdom - September 7, 2009 - United Energy Group plc (UEG) and DECOTRA Engineering d.o.o. (DECOTRA) signed a cooperation agreement toward the development of joint energy projects in the Republic of Serbia. 'Our partnership with DECOTRA will focus on the development of joint power plant projects in the areas of cogeneration, wind and hydroelectric energy to meet the rising energy needs in the Balkans,' stated Dr. Rolf Haferkamp, CEO of UEG. 'Moreover, we will collaborate in the areas of energy consulting and energy trading.' The spheres of ownership of DECOTRA will include licences and permits as well as the technical development and construction of the plants. UEG's role in the partnership will be the financing, managing, and controlling of the joint energy projects. 'In UEG, we have found a partner who supplements our expertise in the area of consulting and technical engineering with high-end management qualities,' emphasised Dr. Ing. Ljubo Miskin, President of DECOTA Group, which is the most important energy group active in the Western Balkan. In addition to its extraordinary consulting and engineering knowhow, the Group has in-depth knowledge of the economic and business structures in the Balkans. 'UEG will also secure us access to the Western European markets and thereby ensure that the financing for our projects is in place,' Dr. Ing. Miskin went on to say. Before the background of a supply shortage equal to 7000 MW in the Balkans till 2015 - as diagnosed by the World Bank - and the initial investment process now underway in the Serbian energy sector through various forms including public-private partnership projects, the partners will initially focus on eight energy projects (cogeneration and hydro power) already identified and analysed in the form of feasibility studies. United Energy Group plc United Energy group plc is an independent, listed energy company seated in Haslemere, Surrey, UK. Formed in 2006, the company focused initially on the area of energy production. During the past two years, UEG has undergone substantial development and successfully initiated another two business units: Energy Consulting and Energy Investments. The company has thereby responded to global market trends as it seeks to make a significant contribution to the area of energy supply, and to help meet the growing energy needs worldwide. Assertions Regarding the Future This press release may contain certain assertions regarding the future that include statements, declarations of intent, strategies and opinions relating to the future and to the expectations of United Energy Group and its subsidiaries. Any assertion 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 events 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 10719 Berlin, Germany Tel.: +49 (0)30 - 81 46 46 00 Fax: +49 (0)30 - 81 46 46 0 - 46 E-mail: ir@unitedenergy.com 07.09.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------------
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