Sterling Financial launches New Providence Opportunity Fund, A Real Estate Investment Fund, and Announces Its First Real Estate Acquisition

— “The New Providence Opportunity Fund, Ltd. presents an excellent opportunity to investors to capitalize on decades of property experience of its Sponsor and it drives significant synergies with the existing fixed income mortgage funds managed by Sterling Financial Group, Inc.”

NASSAU, The Bahamas, Aug. 22, 2014 /PRNewswire/ — Nassau, The Bahamas based Sterling Financial Group (“Sterling”), announces the launch of the New Providence Opportunity Fund, Ltd. (the “Fund”). The Fund is a closed-end equity investment fund consisting of high net worth and institutional investors, which targets diverse real estate investment and development opportunities in the United States, Canada and the Caribbean.

The Fund seeks to benefit from Sterling’s access to fundamentally sound real estate investments including development opportunities that were financially challenged by the Recession. The Fund will be active in markets where Sterling has both extensive real estate experience and existing platforms. Leveraging its relationships with developers, real estate private equity firms, private family investors, entrepreneurs and financial institutions, the Sponsor will identify opportunities, and upon acquisition, provide value-add initiatives to maximize total returns.

“We are pleased to bring New Providence Opportunity Fund to the market,” said Steve Tiller, President and COO of Sterling “We believe that the combination of our extensive real estate investment, development and management capability and a highly efficient funding structure, is a recipe for success for many investors in today’s market,” Tiller continued. David Kosoy, Sterling’s Chairman and CEO added, “we are pleased to add this fund to our other real estate offerings available, and I believe it is a great complement to our platform.”

Simultaneously with the first closing of the Fund, Sterling is also announcing the acquisition and further development of Ocean Terrace, an existing ocean front condominium project located in the West end of New Providence island. The acquisition includes additional green-field acreage for future development.

“Ocean Terrace is now under new ownership and we are revitalizing a project that has been idle for some time. It is a true sign of strong improvements currently experienced in the Nassau real estate market and especially in the highly sought after western district. The project is an excellent addition to the notable projects that Sterling is involved in and it is a terrific complement to our portfolio”, added Tiller.

The Sterling platform focuses on providing access to alternative market opportunities without compromising the North American standard for risk management, operational efficiency and regulatory requirements. Sterling leverages a management team with interdisciplinary real estate experience, a strong internal infrastructure and partnerships with leading service providers in order to capitalize on unique real estate investments and structures.

Kosoy further noted, “We have seen an increased demand from investors for quality real estate projects and funds that would diversify their exposure to traditional investments as well as providing attractive returns. We are pleased that we can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios.”

Sterling Financial Group, Inc., a fully integrated and diversified real estate investment, development, management and services company that has an established track record of successes in the real estate industry. Over the past 40 years, Sterling and its principals have acquired over 5.5 million square feet of commercial real estate at a combined purchase price of over $2 billion. Prior to founding Sterling, the principals had previously been part of the controlling group of a publicly traded real estate company, which acquired and managed a portfolio of more than 20 million square feet of real estate across North America. Sterling is headquartered in Nassau, Bahamas.
www.sterlingbahamas.com

NPOF Launch Press Release
For further information please contact:

Sterling Financial Group
T: +1-242-677-1900
E: cwalker@SterlingBahamas.com

Sharell Carroll
SageEden Media Group
T: +1-242-356-0646
info@sharellcarroll.com

Notes for Editors

ABOUT STERLING FINANCIAL GROUP INC.
Sterling Financial Group is a Nassau, Bahamas based, financial services business founded in 2006. The company is privately owned and is regulated by the Securities Exchange Commission under the Financial Service and Corporate Providers Act.

The series of real estate and mortgage funds managed by Sterling invest and profit from a portfolio of privately held real estate investments and mortgage loans. The business is administered by David Kosoy and Steve Tiller and other respected real estate professionals who collectively have significant experience in the real estate and mortgage lending markets. The principals of Sterling have a track record over the past 40 years of successfully and consistently generating profits in the real estate investments and mortgage lending sectors in Canada, the Bahamas, the U.S. and the U.K.

PW Medtech 2014 Interim Adjusted Net Profit Surged 53.6% to RMB102.3 Million

HONG KONG, Aug. 22, 2014 /PRNewswire/ — PW Medtech Group Limited (“PW Medtech” or the “Company” and, together with its subsidiaries, the “Group”; stock code: 1358), a leading medical device company in China, today announced its interim results for the six months ended 30 June 2014 (the “period”). Adjusted net profit was approximately RMB102.3 million, representing an increase by 53.6% over the corresponding period in 2013. During the period, gross profit was approximately RMB190.7 million, representing an increase of 29.4% when compared to corresponding period last year. Profit attributable to owners of the Company amounted to approximately RMB84.1million, representing an increase of 68.2% from approximately RMB50.0 million for the corresponding period in 2013.

Financial Highlights

For the year ended June 30 (RMB Million)

2014

(Unaudited)

2013

(Unaudited)

Change (%)

Revenue

268.2

218.8

+22.6%

Gross profit

190.7

147.4

+29.4%

Gross profit margin

(71.1%)

(67.4%)

(+3.7pts)

Profit attributable
to owners of the Company

84.1

50.0

+68.2%

Adjusted net profit *

102.3

66.6

+53.6%

Note *: To supplement its consolidated financial statements which are presented in accordance with HKFRS, the Group also uses adjusted net profit as an additional financial measure to evaluate the financial performance by eliminating the impact of items that the Group does not consider indicative of the performance of its business. The Group’s adjusted net profit was derived from its net profit for the year excluding share-base compensation expenses, listing-related expenses as well as the expenses incurred in the acquisition of Tianxinfu.

During the period, revenue amounted to RMB268.2 million, representing an increase of 22.6% over the corresponding period last year. The advanced infusion sets business and orthopedic implant maintained growth, providing a stable development for the Group. The two core business of the Group recorded continuous growth. Revenue of advanced infusion sets business and orthopedic implant and were RMB183.9 million and RMB84.3 million respectively, which contributed 68.6% and 31.4% to the Group’s revenue.

Mr. Jiang Liwei, Chief Executive Officer of PW Medtech said, “The continuous process of urbanization, the increasing government investments into public healthcare sector and aging population contributed to growing demand for quality medical services; thus brought significant growth opportunities for China’s medical device industry. As the leading company in orthopedic implant and advanced infusion sets industry, PW Medtech has further expanded its product portfolio and manufacturing capacity, enhanced the innovation and R&D capabilities, extended domestic distribution network and diversified the product line by strategic acquisitions. The Group successfully entered into the biological materials segment and neurosurgery segment, which has massive growth potential and prospects, and therefore created new profit growth drivers.”

Acquisition of Tianxinfu and Enter the Biological Materials Segment and Neurosurgery Segment

In August 2014, the Group’s wholly-owned subsidiaries, Health Forward Holdings Limited and Beijing Fert Technology Co., Ltd., completed the acquisition of the entire equity interest in Beijing Tianxinfu Medical Appliance Co., Ltd. (“Tianxinfu”) with a total consideration of approximately RMB802.6 million. Tianxinfu has become an indirect wholly-owned subsidiary of the Group and contributed its revenue to it. Tianxinfu is a high-tech enterprise integrating R&D production and sales services. Its main products include regenerative medical biological materials and orthopedic implant products. The medical biological material segment is a segment with massive growth potential and prospects in China’s medical device industry. Upon completion of the acquisition, the Group will enter into the biological materials segment and created new profit growth drivers. The Group opt to expand biological material products applications to more area with R&D investment and technological improvement. After the acquisition of Tianxinfu, the Group will obtain huge neurosurgical medical devices segment distribution network in China. Meanwhile, the Group will also further expand the market share through synergy between the Company and Tianxinfu’s R&D, production and distribution capabilities;

Expansion of Product Portfolio

In order to fully seize market opportunities in the advanced infusion set and orthopedic implant markets, the Group continued to broaden the product portfolio by strengthening its R&D efforts and entering into strategic acquisitions.

With regard to the infusion sets business, the Group has been developing a series of advanced infusion set products with new functions and features. In view of delivering safer and improved infusion treatments, the Group plans to enhance the precision filter infusion sets by including more precise filter pore sizes, new features such as precise flow control, automatic air venting, etc. Further, in an effort expand the Group’s non-PVC-infusion set portfolio, improve product features and broaden its applications fields, the Group is currently developing new non-PVC materials, in order to replace the existing PVC-based infusion set.

The orthopedic implant business had seen much progress with the Group’s continued research on perfecting the three main product categories: trauma products, spine products and joint products. For the trauma implants, the Group is seeking to further improve properties of the bridge-link combined fixation system which was commercially launched in July 2012; the spine implants sees the on-going development of the PEEK (polyethereth erketone) fusion cage and vertebro plasty tools. The Group will continue to devise new ideas and develop advanced materials to satisfy varied patient demands for the hip and knee implants.

As for regenerative medical biological materials business, Tianxinfu has been working with large scale Class III hospital to upgrade the current products to develop a series of regenerative medical biological materials products with new applications, functions and features in order to diversify product portfolio.

Emphasis on Innovation and Research and Development

As a leader in development of innovative products, the Group currently possesses an experienced R&D team comprising of approximately 100 members. As at June 30, 2014, the Group has obtained 50 patents, including 25 for infusion set products and 25 for orthopedic implant products, and has applied for 34 patents. The Group will continue to invest in product innovation and R&D in future, and cooperate closely with surgeons, hospitals, university research centers and other research institutions to integrate results from R&D and develop products which meet market demands.

Expansion of Distribution Network

The Group currently has three experienced and dedicated sales and marketing teams to support and consolidate nationwide distribution network and strengthen product promotion. Approximately 50% of the sales and marketing staff who have medical experience; with key salespersons in each business segment have an average of 10 years’ experience in their respective areas. Their experience and expertise helps them to communicate with doctors and nurses in a succinct and effective manner.

In response to the ever-increasing market demand, the Group will make further efforts to develop the sales and marketing teams in order for them to support the Group’s extensive distribution network and, promote the Group’s products and brand name to surgeons, nurses and hospitals. For the Orthopedic Implant Business, the Group will continue to focus on expanding its business at Class 2 hospitals in the second and third tier cities, and concentrate on developing sales and marketing capabilities for the newly acquired joint implant business. In relation to the advanced infusion set business, the Group will focus initially on the Class 3 hospitals in larger-than-average cities in the more developed regions of China, and then penetrate into smaller hospitals and cities.

Increase Production Capacity

In view of the growing potential of the orthopedic implants market in China, the increasing popularity of the advanced infusion sets is now replacing conventional infusion sets. In the next 3-5 years, in addition to expanding the capacity in the existing plants in Beijing, the Group is also planning to make an addition of two manufacturing plants in Linyi (Shandong province) and Pinggu (Beijing) to expand its production capacity for advanced infusion sets. Meanwhile, the Group sets to increase the production capacity of trauma and spine implants of the facility in Tianjin.

Mr. Jiang Liwei, Chief Executive Officer of PW Medtech concluded, “Looking forward, the Group will be seeking to identify fast-growing, high-margin and high-potential opportunities in the medical device industry by utilizing its capabilities on strategic acquisitions; giving support to the rapid business growth and consolidating market leadership in the medical device industry. While maintaining rapid organic growth of the two core business including orthopedic implant and advanced infusion sets segments, the Group will leverage on its outstanding acquisition and integration capability to support sustainable and rapid growth of the Group’s business. It is believed that through continuous effort in enhancing the overall operational efficiency and profitability, the Group will be able to bring satisfactory return to shareholders.”

To see the full version of this release, including financial tables, click here: http://photos.prnasia.com/prnk/20140822/8521404726-a

About PW Medtech Group Limited

Listed on the main board of Hong Kong Exchange on 8 November 2013, PW Medtech Group Limited is the leading medical device company in China, focusing on R&D, production and distribution of orthopedic implants and advanced infusion sets products. In August 2014, the Group successfully entered into the biological materials segment through the completion of its acquisition of Beijing Tianxinfu Medical Appliance Co., Ltd. The Group is one of the only two major domestic companies with a full product portfolio of orthopedic implants, as well as among the top advanced infusion sets enterprises in the PRC. The Group manages an extensive nationwide distribution network located across 30 provinces, municipalities and autonomous regions in China.

Issued by Porda Havas International Finance Communications Group for and on behalf of PW Medtech  Group Limited.

Honeywell Promotes Science and Technology Education in Partnership with Government Schools

More than 1,200 students and 12 teachers will benefit from experiential learning science kits program; Honeywell Engineers volunteer to promote technology careers to students

JAKARTA, Indonesia, Aug. 22, 2014 /PRNewswire/ — Honeywell (NYSE: HON) announced today that it is helping more than 1,200 local students learn about science and technology through a partnership with local schools in Batam and Bintan in Riau Islands province.

Under the Honeywell Science Kits program, four schools will receive science kits supporting the national curriculum. These comprehensive tools will allow students to experience science and technology concepts in an innovative way. As part of the program, 12 teachers from these four schools will be trained with hands-on teaching techniques, enabling them to better engage their students in the classroom. In addition to that, 12 engineers from local Honeywell facility are volunteering to promote technology careers at these local schools.

The program is part of Honeywell’s ongoing commitment to promote science and technology education in Indonesia which includes sponsoring middle school math and science teachers to attend its international programs such as Honeywell Educators @ Space Academy and Green Boot Camp to learn advanced teaching techniques. This new science kits program is sponsored by Honeywell Hometown Solutions, the company’s global citizenship initiative.

“Honeywell provides students and teachers opportunities in science and technology education in Indonesia, through a series of unique programs designed to inspire the next generation of innovators,” said Alex Pollack, President of Honeywell Indonesia. “This exciting program affords students an opportunity to learn concepts in a more engaging manner and gain valuable access to information about potential careers in science and engineering from Honeywell’s top engineers.”

According to National Science Foundation, 80 percent of the jobs in the next 10 years will require Science, Technology, Engineering and Math (STEM) skills and capabilities. “We aim to provide the best education to our students and these advanced teaching techniques will be highly beneficial both for our students as well as our teachers. We welcome such initiatives and are delighted to have Honeywell engineers volunteer to encourage our students,” said Zurnalis, Principal of SMPN 9, Batam.

Honeywell Science Kits program is being run in partnership with SMP II Lukman Hakim and SMP Negeri 9 in Batam as well as in SMP Negeri 11 and SMPN 13 in Bintan.

About Honeywell

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

About Honeywell, Indonesia

Honeywell’s products and systems have been distributed and installed in Indonesia since 1974. In 1992, Honeywell established our Indonesian representative office, which maintains a network of local distribution companies. Today, three of Honeywell’s businesses, Automation and Control Solutions, Aerospace, and Performance Materials and Technologies, employ over 1,500 employees in cities across the country, including Jakarta, Surabaya, Purwakarta, Batam and Bintan.

About Honeywell Hometown Solutions

Honeywell Hometown Solutions, the company’s corporate citizenship initiative, which focuses on five areas of vital importance: Science & Math Education, Family Safety & Security, Housing & Shelter, Habitat & Conservation, and Humanitarian Relief. Together with leading public and non-profit institutions, Honeywell has developed powerful programs to address these needs in the communities it serves. For more information, please visit http://citizenship.honeywell.com/.

Maybank PE Leads Series D Financing For YPX Cayman Holdings

Looking to capitalize on the strong growth opportunities in China’s food & beverage industry, Maybank PE, the private equity arm of Maybank, made its maiden investment in China by investing in YPX

SHANGHAI, Aug. 22, 2014 /PRNewswire/ — YPX Cayman Holdings Co. (“the Company” or “YPX”), a leading quick service restaurant company headquartered in Shanghai, announced today the closing of its series D financing round of USD 25M. MAM PE Asia Fund I (Labuan) LLP, a fund managed by Maybank Private Equity Sdn Bhd (“Maybank PE”), is the lead investor in the latest financing round, with follow-on investments from existing investors such as LionRock Capital, Ignition Capital, as well as renowned individual investors such as Mr. Koh Boon Hwee, former DBS Bank and Singapore Airlines Chairman, and Mr. Peter Tan, former President of McDonalds Greater China and ex-CEO of Burger King for Asia Pacific. Series D financing proceeds will be utilized to grow YPX directly-owned stores and to expand YPX’s franchising system.

Cloud 9 Store

Cloud 9 Store

 

Three-cup Chicken

Three-cup Chicken

“We are truly excited to have an investment from a fund seeded by Malayan Banking Berhad, or better known as Maybank. Maybank is one of South East Asia’s largest banks, and the largest in Malaysia by market capitalisation. Named one of the Top 20 strongest banks in the world consecutively in 2013 & 2014 (by Bloomberg Markets Magazine July / August 2014), Maybank through its private equity arm has a very rigorous due diligence process, and we are honored to have passed their stringent test on our business and management. It is a very significant event for me and the Company to have the fund investing in us. Maybank PE brings a wealth of experience to help us grow our business,” says Chris Tay, CEO and founder of YPX Cayman Holdings.

Mr. Pneh Tee Keong, CEO of Maybank PE, says, “We are very pleased with this outcome. The upside for this segment in China is enormous, given the increasing middle class population. We are also comforted by the fact that we are investing in a sound business, and backing an experienced management team to help us navigate through the intricacies of operating in this market. We are very excited to be a part of what I believe will be a successful partnership with Chris, his team and all the other shareholders.”

With this fresh funding, YPX will be able to grow more stores via direct-owned operations as well as franchisees across China. The company will also allocate some proceeds for R&D to diversify its menu offering, brand awareness and information technology to support its future growth. “Serving good quality, value for money food has been the hallmark of YPX since its inception. This year, we have continued to focus on improving our food quality and safety standards; we see this as an ongoing pursuit that will continue to underpin all that we do at YPX. 2014 is also our inaugural year for franchising, and we are very committed to being a responsible franchisor. We will set up a robust system to support and train our franchisees as they are in all ways business people and want a good return on their investments,” says Tay.

“In the past, franchising had an undesirable reputation in China, due to a laggard monitoring system and a mismatch of values between franchisors and franchisees. The industry was further tarnished by unethical practices by franchisors who emphasized short-term gains over creating a sustainable brand name. However things are changing, albeit slowly, and the market is maturing for the better; franchisees are more informed and educated than before. We want to be the first one to stand out as the most sought after and most responsible franchisor in China. Needless to say, this will not slow down our own corporate-owned stores. Not only will this positively add to our revenue growth, it will also provide support to our franchised stores. In addition to this, we are true believers in the use of information technology in the F&B industry, when often times IT takes a back seat in our kind of business. So we will invest heavily on IT in the coming years. The hottest potential is that China is still urbanizing rapidly and its consumer market is going to be the largest in the world in the next few years, if it isn’t already,” adds Tay.

YPX’s first brand is Cloud9, a Taiwanese Fast Casual Restaurant chain, which currently has more than 40 stores in 12 cities. Founded in late 2010, Cloud9 was seed-funded by Qiming Venture Partners, well known for its highly successful investment in Xiaomi. Over the next year, YPX hopes to add two more brands, be it from the USA or another country that has good brand equity amongst Chinese consumers. Tay says, “We will not add another brand for the sake of adding a brand. It has to have the same core values as the first brand: serving a majority of the Chinese customers with the best food at the most affordable pricing. We have strict principles that we adhere to when developing and nurturing a brand. We do not want to segregate any spectrum of the customers. We want brands that can understand the Chinese consumers’ needs and always staying relevant. And it has to be scalable at the same time. We have a solid management team and our reputation of being professional, reliable and accountable attracts many brands from overseas to want to work with us to expand in China.”

On the topic of food safety, Tay adds, “food safety is of paramount concern in China. YPX will not compromise on food safety for the sake of growth as these two important objectives are not contradicting. We can do both. A high moral standard and superior transparent management culture are held in very high esteem in YPX.”

Mr. Daniel Tseung, MD of LionRock Capital, says, “We are delighted to have a Maybank associated fund as the lead investor in the latest Series D round and look forward to working with Maybank PE, other YPX shareholders, and the company management team in strengthening YPX leading position in the Quick Service Restaurant industry in China.”

Mr. Rich Tong of Ignition Partners says, “This latest investment shows that YPX is one of the best teams in the highly competitive food and beverage market. We congratulate them on this great milestone.”

About YPX www.ypxfood.com

Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual F&B chains in China. CLOUD 9, the Company’s first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 40 stores across China including Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, and Hefei. The Company’s management team has a combined F&B chain management experience of over 80 years, having worked in brands like KFC, McDonald’s, Burger King, Dicos, Dairy Queen and Yoshinoya. The Company aims to be a leading casual F&B platform in China.

About Maybank PE www.maybank-am.com

Maybank PE is a wholly owned subsidiary of Maybank Asset Management Group Berhad (“MAMG”), which in turn is a wholly owned subsidiary of Malaysian Banking Berhad (Maybank). Maybank PE targets minority investments in the consumer and consumer related segments across the Asian region.

Its parent, MAMG, is Maybank’s asset management business unit and offers investors a diverse range of investment solutions. MAMG has in-depth experience in managing investments ranging from equity, fixed income to money market instruments mainly on behalf of and for corporations, institutions, insurance and takaful companies and individual clients. In addition to that, MAMG also offers unit trust and wholesale funds. It has regional footprint and on-the-ground presence in key markets of the region – Malaysia, Singapore, Thailand and Indonesia.

About LionRock Capital http://www.lionrockcapitalhk.com

LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. It is supported by some of the world’s most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock’s investee companies and investment partners. LionRock seeks to build active, value-added, long-term relationships with company management teams and investors; its Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. The firm’s team of seasoned Asian professionals has a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond.

About Ignition Capital http://www.igncap.com

Ignition Capital is the growth equity arm of a $3 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 14 years, they’ve been working with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. They have seen their companies deal with difficult economic situations while still growing dramatically to either become public companies, or be sold to larger market leaders.

Photo: http://photos.prnasia.com/prnh/20140822/0861406013-a
Photo: http://photos.prnasia.com/prnh/20140822/0861406013-b

AziPac Limited is Pleased to Announce a Farm-in Agreement with Mitra Energy Limited for a 25% Participating Interest in Block 127 PSC, Offshore Vietnam

SINGAPORE and HAMILTON, Bermuda, Aug. 22, 2014 /PRNewswire/ — AziPac Limited (“AziPac”), the Seacrest Capital Group backed E&P company focussed on offshore exploration in the Asia Pacific and Bay of Bengal regions, is pleased to announce the acquisition of a 25% interest in Block 127 PSC, offshore Vietnam.

AziPac, through its subsidiary Azimuth Vietnam Limited, has signed a farm-in agreement with Mitra Energy Ltd. (“Mitra”), the operator, for a 25% participating interest in Block 127 PSC, offshore Vietnam. As part of the deal, AziPac will pay a working interest share of the approved past costs and carry part of Mitra’s costs of acquisition and processing of a 3D seismic survey, scheduled to be acquired in the second half of 2014. Acquisition of the 3D survey will complete the work programme obligations for the current Exploration Phase which expires on 24 May, 2016. Block 127 is located in the Phu Khanh Basin, off the SE coast of Vietnam. The basin remains relatively underexplored and recent 2D seismic confirms the potential of the basin in terms of prospectivity.

Upon completion of the farm-in, the participating interests in the PSC will be as follows:

Block 127 PSC

Mitra Energy (Vietnam Phu Khanh) Pte Ltd

75%

Azimuth Vietnam Limited

25%

This farm-in remains subject to the approval of Petrovietnam and the Government of Vietnam.

Frank Inouye, Managing Director of AziPac, commented,

“We are very pleased to have acquired an interest in this highly prospective licence in one of the most exciting hydrocarbon exploration provinces in the world. Vietnam has experienced a renaissance in E&P activity recently and we look forward to working with Mitra Energy to fully evaluate this block.

“Block 127 is the second asset AziPac has acquired since we created the company earlier this year. Along with our interest in the Bone PSC in Indonesia, we have what we believe to be a solid platform for future growth in the region.”

Notes to Editors: 

Seacrest Capital Group is a leading energy investor specialising in offshore exploration, leveraging its proprietary assets and relationships to build a diversified, global portfolio of regionally focussed oil and gas exploration companies. Since 2011, Seacrest Capital Group has invested in a number of successful start-ups in the United Kingdom and Norwegian North Sea, West Africa, South America, Ireland and South East Asia. As a result of Seacrest’s support, AziPac is in a strong position to take advantage of and build on further opportunities as they arise in the offshore Asia Pacific and Bay of Bengal regions.

Contacts:

AziPac Limited
Daniel McKeown
http://www.azipacexploration.com
+1-441-537-2073

Vigo Communications
Patrick d’Ancona
Chris McMahon
http://www.vigocomms.com
+44-(0)20-7016-9570