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Background

Middle East Petroleum Services Limited ("MEPS") was incorporated as "Hillsboro Exploration Limited" in the Isle of Man in 1984 and changed its name to "Middle East Petroleum Services Limited" in 1989.

MEPS is a private company, is not listed on any stock exchange and is not required to publish accounts. MEPS has no debts, no borrowings and no liabilities contingent or otherwise.

AustralAsian Energy Limited is wholly owned subsidiary of MEPS. MEPS holds shares in certain publicly listed companies with whom it has a professional relationship.