05.08.2014 – 17:10

MAN OIL GROUP AG

DGAP-News: MAN OIL GROUP AG: MAN OIL GROUP AG CONCLUDES AN AGREEMENT WITH EMCO OILFIELD SERVICES LTD TO FOUND A JOINT-VENTURE IN NIGERIA

DGAP-News: MAN OIL GROUP AG / Key word(s): Joint Venture/Alliance
MAN OIL GROUP AG: MAN OIL GROUP AG CONCLUDES AN AGREEMENT WITH EMCO
OILFIELD SERVICES LTD TO FOUND A JOINT-VENTURE IN NIGERIA

05.08.2014 / 17:08

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MAN OIL GROUP AG CONCLUDES AN AGREEMENT WITH EMCO OILFIELD SERVICES LTD TO
FOUND A JOINT-VENTURE IN NIGERIA

Zug, Switzerland, August 5, 2014
Man Oil Group AG ("MOG") announced, that as of May 2014 they have concluded
an agreement with EMCO oilfield Services Ltd. ("EMCO"), the leading
oilfield services company on the Nigerian oil and gas market, to form a
joint venture (JV) named EMCO-MOG LTD.

The joint venture with 51% EMCO share and 49% MOG share, will be the first
significant multi-million investment in Nigeria for the STORM-15 machine to
render oil sludge and oil contaminated soil cleaning services.

The companies plan to launch operations early next year, in order to treat
large volumes of the  existing and fresh oil sludge of the multinational
oil companies present in Nigeria (Shell, Total, NNPC, Agip, Addax etc.), in
an environmentally friendly way. The beginning of this cooperation will
create a solid basis for further projects of EMCO-MOG LTD in the Nigerian
market.

Nigeria is one of the important strategic markets for MOG, the country is
ranked as the 8th largest crude oil exporter worldwide, possessing
significant oil reserves.

According to a UN message to the Nigerian government in 2011, it will take
US$20 Billion within the next 30 years to eliminate the massive
environmental damages in the Niger delta region alone. The rise in
environmental problem in Nigeria, caused by the regularity of oil spills
for many years, is a critical task of the country to deal with.

Genadi Man, MOG President:
"We are happy to start business with EMCO in Nigeria - the Nigerian
oilfield services company who has serviced the well known clients in the
past eleven years. Based on their long term business relationships in
Nigeria and their positive market image we expect to take a strong position
in this strategically important market."

Paschal Anyanwu, EMCO Managing Director:
"In its many years of operations in the oil spill clean up and remediation,
EMCO studied many technologies involving oil sludge treatment, which could
meet the standards of environmental safety and commercial viability. After
trials, tests and negotiations, I was clear MOG was the best globally, so
it was a natural progression to decide to start an exclusive cooperation
with MOG. The exclusivity of their technology will put as in a unique
position in the market place."

ABOUT MAN OIL GROUP AG
Man Oil Group AG performs a large scale complex industrial treatment of oil
sludge and oil contaminated soils, with further post treatment of the solid
end products to an environmentally friendly standard.
The technology is based on the scientific and technical methods which allow
MOG to offer the Client a complete and highly efficient solution. The
company's demonstrated unique results of oil-waste treatment technology
have received a high praise from major market players.
MOG strives towards a leadership position in the global market for
treatment of oil-contaminated soil and hydrocarbon recovery and providing
customers with the highest-quality services.

More information is available at www.manoilgroup.com.

ABOUT EMCO OILFIELD SERVICES LTD.
EMCO Oilfield Services Limited, has been in business for the past eleven
years serving the oil and gas sector in the areas of oil spill response,
remediation, waste management, education etc.  During this period it has
managed to develop a reputation as the gold standard in the industry,
accumulating a long list of clients like Shell Petroleum Development
Corporation (SPDC), TOTAL, CHEVRON, EXXON-MOBIL, ADDAX, AGIP to name a few.
Over these years it has become a leading oil services company, evolving by
making technology an intricate part of its strategy for growth and
expansion.

CONTACT:
Man Oil Group AG
Bleichistrasse 8
6300 Zug, Switzerland
Tel.: +41 41 500 16 90
Fax:  +41 41 500 16 91 
ir@manoilgroup.com

Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of
offers to purchase or subscribe to securities. There will be no public
offering of securities of Man Oil Group AG in conjunction with the existing
listing of its shares in the GXG Markets First Quote (GXGF) on the GXG
Markets. This notice does not constitute a securities prospectus. Neither
this notice nor the information contained within is intended for direct or
indirect distribution within Canada, Australia or Japan.

Information Related To Forward-Looking Statements:

This release includes forward-looking statements that reflect management's
expectations about future events and the Company's operating plans and
performance. These forward-looking statements are subject to risks and
uncertainties. The words "believe," "expect," "anticipate," "intend,"
"plan," "will," "may," "should," "could," "would," and similar expressions
are intended to identify forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. Man Oil Group AG
undertakes no obligation to update or revise any forward-looking
statements.
Factors that could cause actual results to differ materially from these
forward-looking statements include, but are not limited to, the following:
events impacting the likelihood and timing of the creation of the joint
venture and completion of the transaction, such as regulatory and other
approvals, consultation requirements and the execution of ancillary
agreements; The ability of the investors to fund their investment in the
joint venture; uncertainty relating to the timing and magnitude of the
recognition of a gain by Man Oil Group AG as a result of the transaction,
such as when assets are transferred to the joint venture and costs related
to the transaction; the actual amount of any potential gain arising from
the transaction Man Oil group AG decides to invest in growth initiatives,
which will be based in part on management's assessment of competitive
opportunities; the potential loss of key customers, vendors and other
business partners; the underlying assumptions related to the transaction
proving to be inaccurate or unrealized, such as the ability of the joint
venture to build upon MOG's innovations and capabilities, the ability of
the joint venture to accelerate the growth of the MOG business and provide
additional value to corporate customers and the ability of the joint
venture and MOG to coordinate following the transaction; and the joint
venture's ability to successfully create additional investment capacity for
products, technology and servicing capabilities following consummation of
the transaction.



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05.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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