MIE HOLDINGS CORPORATION MI 1555 MI MI 6 =1 993 0.8% 1,001 568 5.3% 598 8.4% 30 48.0% 2.367 Condor Energy Technology LLC Niobrara Riyadh Energy Limited (EBITDA) 16 0.225 91.9% 80.0% 0.022 1
10% + (2P) 40 35 14.3% (1P) 40.3% 1.168 2P 13.6% 2.187 + + (3P) 2.898 1 2 3 + 2P 2P 4.4% 8,310 2,120 4,220 10.62 16 18 55 65 2
28 TB 1H 1 92.5 26,205 10 38.0 10,780 RISC Operations Pty Ltd 1P 2P 171% 54% 3,641 103 1 =35.315 4,667 132 10% 2P 16 Emir-Oil Emir-Oil 5,201 4,320 20.4% Emir-Oil Emir-Oil Emir-Oil (1) 700 10 (2) (00603.HK) LNG/CNG 1 3
2,600 32 29 9,800 11,100 9,600 10,100 1.03 4
2,982,909 3,256,061 (928,447) (905,032) 6 (695,092) (740,628) (215,634) (227,769) (337,340) (370,205) (20,047) (4,721) (36,595) (31,346) (123,733) (102,528) (154,570) 7 302,020 (4,635) (2,209,438) (2,386,864) 773,471 869,197 8 18,491 6,431 8 (499,818) (351,984) (55,432) (68,777) 236,712 454,867 9 (214,163) (175,083) 22,549 279,784 4,001 (48,932) (20,285) 24,283 (4,093) 20,514 (16,284) (8,228) 6,265 271,556 5
58,482 283,009 (35,933) (3,225) 22,549 279,784 42,198 274,781 (35,933) (3,225) 6,265 271,556 10 0.02 0.11 10 0.02 0.11 4 60,969 6
6,629,673 7,160,160 494,552 544,469 499,284 273,348 20,538 40,783 75,541 50,422 11 210,389 34,941 12,955 11,884 7,942,932 8,116,007 41,046 44,835 7,791 11 622,013 549,188 12 158,957 273,125 139,411 37,071 689,208 274,529 1,650,635 1,186,539 9,593,567 9,302,546 842,520 856,134 153,864 241,766 60,969 2,560,637 2,502,138 3,557,021 3,661,007 7,490 43,423 3,564,511 3,704,430 7
15 4,174,878 3,589,503 312,971 261,472 13 54,739 46,113 14 141,350 145,424 4,683,938 4,042,512 13 654,373 1,022,424 14 346,841 462,238 4,449 10,942 15 339,455 60,000 1,345,118 1,555,604 6,029,056 5,598,116 9,593,567 9,302,546 305,517 (369,065) 8,248,449 7,746,942 8
16 1,180,423 1,209,099 (1,314,023) (1,408,913) (71,986) 532,479 46,400 10,208 (269,375) (180,773) (163,856) (103,411) 1,838 14,364 2,863 8,134 (1,311,066) (1,584,985) 411,545 120,000 2,986,181 1,229,212 (2,465,600) (120,198) 16,741 44,507 (10,385) 1,177 (126,455) (998,612) (60,952) (124,365) 970 1,976 (14,994) (25,339) (50,240) (13,614) (44,605) 541,893 215,057 411,250 (160,829) 274,529 467,164 3,429 (31,806) 689,208 274,529 9
1. MI Niobrara 2. 2.1 2.1.1 (a) 10 12 27 12 32 36 13 36 10
39 39 19 21 622 9 358 622 9 (b) 9 9 39 9 39 11
9 39 15 18 15 2.2 12
2.3 2.4 2.5 13
3. 3.1 (i) 14
(ii) 2.2 (iii) 29.3 125.3 (iv) 15
(v) 4. 0.029 77,572 60,969 5. Niobrara 16
2,217,183 746,361 19,365 2,982,909 (806,894) (97,527) (23,548) (478) (928,447) 6 (341,432) (331,960) (1,464) (20,236) (695,092) (111,163) (49,755) (54,716) (215,634) (227,008) (97,430) (12,902) (337,340) (20,047) (20,047) (29,018) (7,577) (36,595) (39,974) (28,989) (7,198) (47,572) (123,733) 661,694 113,076 (25,747) (123,002) 626,021 (29,282) (125,288) (154,570) 278,918 (408) 23,510 302,020 453 1,629 3,792 12,617 18,491 (20,347) 32,704 (1,771) (510,404) (499,818) (55,432) (55,432) 891,436 147,409 (149,422) (652,711) 236,712 (169,734) (44,260) (169) (214,163) 721,702 103,149 (149,422) (652,880) 22,549 2,171,909 2,941,774 92,536 4,387,348 9,593,567 4,297,259 2,275,176 24,238 33,000 6,629,673 7,197 484,581 2,774 494,552 499,284 499,284 487,330 377,367 3,164 955 868,816 976,475 660,221 50,345 4,342,015 6,029,056 17
2,443,844 782,631 29,586 3,256,061 (781,723) (101,868) (21,229) (212) (905,032) 6 (413,194) (319,450) (386) (7,598) (740,628) (109,531) (48,347) (69,891) (227,769) (238,201) (120,966) (11,038) (370,205) (4,668) (53) (4,721) (31,346) (31,346) (41,183) (18,145) (7,926) (35,274) (102,528) 828,666 169,187 (11,046) (112,975) 873,832 13,315 (23,055) (1,380) 6,485 (4,635) 360 2,380 3,626 65 6,431 (15,952) (221) (953) (334,858) (351,984) (68,777) (68,777) 826,389 148,291 (9,753) (510,060) 454,867 (195,667) 20,584 (175,083) 630,722 168,875 (9,753) (510,060) 279,784 5,901,879 2,642,182 257,941 492,753 9,294,755 4,994,736 1,977,432 155,586 32,406 7,160,160 35,918 492,697 15,854 544,469 273,348 273,348 851,161 511,700 113,555 1,895 1,478,311 1,206,279 593,292 48,013 3,735,395 5,582,979 18
9,593,567 9,294,755 7,791 9,593,567 9,302,546 6,029,056 5,582,979 15,137 6,029,056 5,598,116 2,970,017 3,253,140 12,892 2,921 2,982,909 3,256,061 2,204.3 2,204.1 Titan Oil 624.6 698.0 Titan Oil 73.9% 20.9% 75.0% 21.4% 19
6. 328,878 399,323 12,110 13,473 444 398 341,432 413,194 44,588 45,329 176,536 185,696 87,328 56,973 23,508 31,452 331,960 319,450 930 386 534 1,464 386 20,236 7,598 695,092 740,628 7. 259,389 19,564 (7,626) 11,723 5,458 3,834 14,111 (408) (1,379) (23,055) 7,918 7,856 302,020 (4,635) 20
23 8. 18,491 6,431 (335,521) (329,945) (33,288) (28,465) (154,902) (38,398) (8,903) (5,476) (532,614) (402,284) 32,796 50,300 (499,818) (351,984) (481,327) (345,553) 2016 120.2 25.0 34.7 13.4 9. 134,833 209,154 79,330 (34,071) 214,163 175,083 21
236,712 454,867 116,501 195,689 (1,125) (2,912) 40,859 7,674 (30,728) 55,105 1,624 1,482 3,736 1,341 214,163 175,083 90% 38% 10. (a) 58,483 283,009 2,603,617 2,615,535 0.02 0.11 22
(b) 58,483 283,009 2,603,617 2,615,535 3,461 8,123 2,607,078 2,623,658 0.02 0.11 23
11. 375,519 270,606 128,341 147,631 16,925 128,341 7,698 3,571 84,071 58,131 57,921 5,829 6,569 676,514 486,298 (1,090) (2,106) 675,424 484,192 71,107 62,114 25,855 7,592 41,610 28,898 18,406 1,333 832,402 584,129 622,013 549,188 210,389 34,941 832,402 584,129 PEDCO 2,106 2,171 (1,024) 8 (65) 1,090 2,106 7 24
12. 94,339 167,190 10,197 28,982 54,421 76,953 158,957 273,125 158,957 273,125 25
30 158,764 273,094 31 180 193 31 158,957 273,125 30 180 13. 682,005 920,254 27,107 148,283 709,112 1,068,537 (54,739) (46,113) 654,373 1,022,424 26
6 427,290 656,530 6 1 176,906 232,232 1 2 68,275 144,342 2 3 19,139 28,853 3 17,502 6,580 709,112 1,068,537 27
14. 61,293 54,684 56,372 75,627 65,784 47,713 79,515 31,910 104,145 71,409 123,289 46,400 50,971 109,477 117,264 488,191 607,662 (54,684) (56,372) (28,611) (38,314) (58,055) (50,738) (141,350) (145,424) (346,841) 462,238 28
15. (i) 4,169,243 3,589,503 5,635 4,174,878 3,589,503 122,380 217,075 60,000 339,455 60,000 4,514,333 3,649,503 2016 9.75% 2,399,658 2018 6.875% 1,190,967 1,189,845 2019 7.5% 2,978,276 4,169,243 3,589,503 400 2016 2016 9.75 390 2,535 MIE 200 BMB Munai, Inc. Emir-Oil 29
200 2018 2018 6.875 195 1,222 MIE 500 3,076.4 2019 2019 7.50 485.0 2,986.1 (i) 400 2,461.1 9.75 19.5 120.2 (ii) 2016 2018 2019 2018 2019 2018 103.4375% 101.71875% 2019 103.750% 101.875% 2018 2019 100% 2018 2019 106.875% 2018 35% 2018 65% 60 30
107.50% 2019 35% 2019 65% 60 (ii) 6.77% 8.00% 8.14% 8.55% 6.44% 7.83% 10.91% 345,090 3,408,283 60,000 3,777,030 6.23% 8.55% 6.44% (iii) 217,075 60,000 2,910 2,725 222,710 60,000 31
(iv) 290,000 300,000 220,025 151,717 510,025 451,717 32
16. 236,712 454,867 928,447 905,032 514,122 394,826 (32,796) (50,300) 7 (259,389) 154,570 (19,564) 7,626 1,379 12,315 26,549 (11,314) 55,432 68,777 (2,478) 2,681 226,175 88,316 (140,530) (127,154) 1,661,702 1,772,599 1,661,702 1,772,599 (326,022) (295,931) (155,257) (267,569) 1,180,423 1,209,099 17. (a) (i) 409,072 2,117,619 236,400 4,258 645,472 2,121,877 33
(ii) 13,195 13,530 5,733 3,202 693 320 19,621 17,052 (iii) 578,409 409,438 538,322 434,868 1,419,575 1,429,438 4,953,807 5,388,564 7,490,113 7,662,308 2,022 2,161 (iv) 51.0 312.1 (b) MIE 64 MIE MIE MIE MIE 34
96.02 86.15 10.03 Emir-Oil 5,201 20.4% 1 2 3 8,310 2,120 4,200 + 2P 16.3 10% + (2P) 40 35 14.3% 193 36 2,753 2,703 45 5 35
27,418 27,207 0.8% 16,373 15,555 5.3% 15,326 14,673 4.5% 15,300~16,300 6,280 5,295 18.6% 5,500~5,900 85.99 97.06 (11.4%) 1.27 1.64 (22.3%) 193 145 33.1% 205 (1) 6=1 (2) = (3) = 262 683 226 683 226 262 51% Emir-Oil 96 240 97 (Condor) 5 13 358 928 336 36
(1) 3 8,310 2,120 4,200 + 2P 2P 16.3 2P 36.8 3 3.9% 19,349 9,088 1.6% 18,854 8,863 3 945 225 97.31 104.25 6.7% 103.59 151 1.09 1.22 10.39 0.56 5.4% 10.95 11.83 9.93 0.69 6.9% 10.62 37
75.0 4.8 6.4% 70.2 (1) (2) 69.6 70.4 (2) 28 92.5 26,205 10 38.0 10,780 TB 1H TB 23 TB 1H 80 493 14 2,008psi 14 TB 23 200 56,600 TB 2H 1,494 psi 10 370 10.6 TB 2H TB 1H 25 16 14 2 7 400 11.3 800 22 9.5 2.04 9.6 2.13 700 38
36 51% 79 4,200 4,800 600 12.5% (1P) + (2P) 171% 54% 3,641 103 4,667 132 (Emir-Oil) Emir-Oil 5,201 4,320 20.4% Emir-Oil 62.82 79.64 21.1% 69.72 20.98 40.15 87.80 41.57 1 2 82 18 76 24 Emir-Oil 45 22 16 3 1 Emir-Oil 6 4 2 1 Emir-Oil Emir-Oil 5,400 1.25 7,100 Emir-Oil 3 39
Emir-Oil Aksaz-Dolinnoe-Emir-Kariman ADEK ADEK Emir- Oil Euro-Asian Oil SA Titan-Oil Emir-Oil Aktau Makhachkala Novorossiysk RCMB 2 3 Emir-Oil 5.18 0.33 6.3% 4.85 Emir-Oil 31.81 Emir-Oil 43.42 14.89 34.3% 28.52 Emir-Oil Emir-Oil 41.37 12.23 29.6% 29.14 (Condor) Niobrara Condor Energy Technology LLC Niobrara 5 Niobrara 129 277 92 209 83.11 6.44 2014 11 700 25 10 40
1. 10% + 2P 40 35 14.3% 2. (1P) 40.3% 1.168 + (2P) 13.6% 2.187 + + (3P) 2.898 3. 2P 3P 1P 2P 3P 42% 57% 59% Sino Gas & Energy Limited 1P 2P 3P 24% 9% 4% 4. 1P 2P 3P 4,083 116 1 =35.314 5,639 160 7,118 202 6,800 9,400 1.186 1P 2P 3P 2,340 66 1,652 47 718 20 134% 41% 11% Sino Gas & Energy 1P 2P 3P 2,301 65 1,641 46 805 23 5. 1P 2P 3P 10% 1% 7% 4,870 1.247 1.712 1P 5% 2P 4% 41
104.16 96.05 13.25 Sino Gas & Energy 7.40 8.79 10.18 1.60 1.90 2.20 3.75% 8.30 9.76 11.23 1.76 2.11 2.43 3.75% Emir-Oil Mangistau 87.90 108.57 20.67 46.86 1.35 80.10 101.21 21.11 39.06 1.35 Condor Niobrara 88.31 5.72 82.68 6.47 42
32 103 11,400 12,800 9,800 11,100 9,600 10,100 27 28 22 31% 53 61% 13 6,700 7,000 29 51 4,500 5,000 13 14 9,900 51% 8 21 920 Emir-Oil 3 39 3,000 4,000 5,000 14 1 2 1900 (Condor) 100 100 3,000 43
32.531 2.831 8.7% 29.7 97.06 86.15 558 538 1,290 24.409 22.041 366 377 97.89 104.35 Emir-Oil 7.463 Emir-Oil 7.826 (a) Emir-Oil 7.327 Emir-Oil 76.4% Emir-Oil 63.34 20.98 70.63 39.68 Emir-Oil 85.2% Emir-Oil 1,882,351 1,438,962 443,389 44
Emir-Oil 7.689 Emir-Oil 82.3% Emir-Oil 79.64 20.76 87.80 41.57 Emir-Oil 90.8% Emir-Oil 1,559,808 1,284,287 275,520 (b) Emir-Oil 1,360 1.14 1,954,375 Emir-Oil 1,380 1.34 1,661,583 23.869 1.7764 7.4% 22.093 2.594 9.05 2,340 2.6% 9.284 45
7.406 4,550 6.1% 6.951 328,878 399,323 12,110 13,473 444 398 341,432 413,194 176,536 185,696 44,588 45,329 87,328 56,973 23,508 31,452 331,960 319,450 USA 930 386 534 20,236 7,598 695,092 740,628 46
55 65 2015 1 1 65 70 70 20% 70 75 75 25% 75 80 80 30% 80 85 85 35% 85 40% 60 80 40 190 32% 5% 2.5% 5% 2.5% 120% 40 5.35 60 80 47
1.5% 2.278 1,2200 5.0% 2.156 3.702 3,290 8.9% 3.373 (i)emir-oil (ii) (iii) 2,000 470 3,130 530 16.9% 3,660 1.025 2,120 20.7% 1.237 (i)emir-oil (ii) 2,930 1.253 48
3.020 460 (i) 5,220 2.072 (ii) 1,960 (iii) 13 810 (iv) 360 (i) 763 (ii)emir-oil 2,310 (iii) 13 550 (iv) 1,410 8.692 9,570 11.0% 7.735 Condor 640 1,210 189.1% 1,850 3.520 1.478 42.0% 4.998 (i) 2016 1.202 (ii) 2016 3,470 SGE51% 6,880 5,540 SGE SGE 49
4.549 2.182 47.9% 2.367 2.142 1.751 90% 38% 2016 SGE Condor 2.798 2.571 91.9% 2,260 EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA 50
EBITDA EBITDA 22,549 279,784 214,163 175,083 (18,491) (6,431) 499,818 351,984 928,447 905,032 EBITDA 1,646,486 1,705,452 12,315 9,584 154,570 0 (19,564) 7,626 Emir 20,047 4,721 SGE 19,842 44,339 Emir 23,055 21,166 7,984 (259,389) EBITDA 1,595,473 1,802,761 EBITDA 17.055 5,900 3.5% 16.465 Condor EBITDA 18.028 2.073 11.5% 15.955 EBITDA 51
EBITDA EBITDA 721,702 103,149 (149,422) 652,880 22,549 169,734 44,260 169 214,163 (453) (1,629) (3,792) (12,617) (18,491) 20,347 (32,704) 1,771 510,404 499,818 806,894 97,527 23,548 478 928,447 EBITDA 1,718,224 210,603 (127,895) (154,446) 1,646,486 13,428 752 (1,865) 12,315 29,282 125,288 154,570 (19,564) (19,564) Emir 20,047 20,047 SGE 19,842 19,842 930 20,236 21,166 (259,389) (259,389) EBITDA 1,501,545 231,402 (1,677) (135,797) 1,595,473 52
630,722 168,875 (9,753) (510,060) 279,784 195,667 (20,584) 175,083 (360) (2,380) (3,626) (65) (6,431) 15,952 221 953 334,858 351,984 781,723 101,868 21,229 212 905,032 EBITDA 1,623,704 248,000 8,803 (175,055) 1,705,452 5,901 (483) 4,166 9,584 7,626 7,626 Emir 4,668 53 4,721 SGE 44,339 44,339 Emir 23,055 23,055 386 7,598 7,984 EBITDA 1,629,605 275,240 9,242 (111,326) 1,802,761 53
11.804 13.111 5.419 340 4.143 11.804 9.284 2.367 5.141 1,230 5,540 2.594 3,280 1,130 1,930 1.463 2.262 250 3.26 1.553 12.091 9.05 4.549 3.948 2650 6,880 5,030 1.272 8,830 270 2.959 2.676 13.111 13.14 2.694 1.639 1.034 7,200 5.325 4,640 810 1,440 54
15.85 14.089 1.808 180 290 5.419 (i)2014 4 2019 29.862 (ii) 4.115 CCB 5,500 500 DB 3,500 BCM 3,500 (iii) 100 (i)2014 6 2013 6,100 (ii)2014 5 2016 24.656 CCB 1.25 150 (iii) 2016 1.202 (iv) 104 (v) 1,500 (vi) 4,460 (vii) 1,360 2.151 1.2 6,000 12.292 1,670 4,450 1.244 8,000 6,000 9.986 6,000 2,530 4,830 47.7% 51.8% 5 7.5% 5 2019 EBITDA EBITDA 2.14 2.74 EBITDA EBITDA 2.02 2.83 55
2,131 1,783 344 4 MIE 64 MIE MIE MIE MIE 56
2.254 112,048,000 0.001 2011 5,987,200 0.20 2011 65,358,066 151 97,280,000 1.40 4,008,379 77,572,000 1.01 0.99 17,134,000 0.001 57
17,178,313.11 0.65% 183 22 A.2.1 E.1.2 A.2.1 A.2.1 A.2.1 E.1.2 E.1.2 58
Jeffrey W. Miller Andrew Sherwood Harper www.mienergy.com (www.hkexnews.hk) (www.sgx.com) MI 59
(1) Andrew Sherwood Harper (2) (3) Jeffrey W. Miller 60