Misen Energy expands further in Ukraine

| Source: Misen Energy AB (publ.) Misen Energy AB (publ.) 

The current Joint Activity Agreement among Misen Energy`s AB subsidiaries Misen
Enterprises AB and Karpatygaz LLC , and the Ukrainian partner , the state
company Ukrgazvydobuvannya has been extended by an addendum agreed by the
parties in the Joint Activity . The addendum is now approved and registered by
the Ukrainian government and extends the permits of the Joint Activity with 35
new wells as a first step .

Misen Energys AB subsidiary Karpatygaz LLC has secured an extended financing of
the Joint Activity with the Ukranian division of Sberbank in the amount of 38,5
million USD .
For further information please contact:

Leif Larsson, CEO

tel 46 31  759 50 71

mobile 46 708  40 82 71

e-mail  leif@capital oil.se (leif@capital oil.se)
Misen Energy is a Swedish oil and gas exploration and extraction company with
operations in Ukraine. The company was founded in 2004 and the share is since 12
June 2007 traded on NasdaqOMX First North.

In 2011 the company acquired Misen Enterprises AB and its Ukrainian subsidiary,
KarpatyGaz, including the rights of 50,01 % of the revenue and profit from a gas
production project in Ukraine, which will provide the company with essential gas
and oil assets. As consideration of this acquisition a new share issue was
performed.

The gas extraction assets have been acquired by production cooperation via a
joint activity project governed by a Joint Activity Agreement (the "JAA")
between the wholly owned subsidiaries of Misen Energy, i.e., Misen Enterprises
AB and Karpatygaz and Ukrgazvydobuvannya, the largest producer of natural gas in
Ukraine and subsidiary of the publicly owned company Naftogaz Ukraine. The value
of the assets has been assessed by PwC in Ukraine and is estimated to be
significantly more than the purchase price for Misen Enterprises AB.

The purpose of the project is to significantly increase production of gas and
oil by implementing new technology and a large-scale investment program.

The company's management has extensive experience in the oil industry both in
the former Eastern bloc and in the rest of the world, including prospecting as
well as production and sale of oil.

The registered office of Misen Energy is in Stockholm and the shares are traded
on First North under identification MISE. The Certified Adviser of the company
at NasdaqOMX First North is Thenberg & Kinde Fondkommision AB.

For further information please visit our web site www.misenenergy.se.