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M&A International Inc. Energy Group Deal Book

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Page 1: M&A International Inc. Energy Deal Bookmasiltd.com/wp-content/uploads/2014/01/MAI.Energy.Deal...Braeside Fabricators Inc., Canada Manufactures pressure vessels and skid packages for

M&A International Inc.Energy GroupDeal Book

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Energy is local and international – similar to ourorganization. The experienced professionals of M&AInternational Inc. provide critical global knowledge ofopportunities and market conditions to locate the idealpartners, acquisition targets and potential acquirors foryour business.

You want to sell your company at the mostattractive conditions.You want to expand into new areas within yourcountry or abroad.You are looking for a financial or strategic partnerfor your business.You want to expand into new activities.

The M&A International Inc. Energy Group is your partner.Our international organization brings togetherprofessionals from over 40 member firms with specializedexperience, knowledge and relationships in the energysector. Meeting regularly, we exchange know-how,contacts and ideas.

Some of the areas where we have particular expertiseinclude:

Commodity tradingEquipment and servicesInfrastructureOil/gas production and distributionPetroleum refiningPower generation and distributionRenewable energyWholesale marketing and retail

The transactions in this document reflect the type of dealsour professionals have recently done in this sector.

Paul PuriHead of M&A International Inc.'s Energy Group

M&A International Inc.Energy

1

Introduction

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Established in 1985, M&A International Inc.www.mergers.net offers the unparalleled, global resourcesof over 600 M&A professionals operating in every majorfinancial center of the world. Our members adviseprimarily middle-market companies on acquisitions,divestitures, fundraising and fairness opinions. With M&AInternational Inc., you will receive advice from seniorprofessionals with the relationships, reach and resourcesneeded to ensure your goals are met.

Key facts:

1,300 closed transactions in the past five yearsworth more than US$75 billionAn international, proprietary deal database withover 3,500 active and closed transactions

Our dedicated M&A professionals bring to the tablesuperior expertise and knowledge in leading industrialsectors. They form engagement specific industry groupsthat understand the industry and the unique challengesyou face, providing in-depth market knowledge. M&AInternational Inc. has the following industry groups:

Automotive & AerospaceBusiness Support ServicesConstruction & Engineering ServicesEnergyFood & BeverageHealthcareMediaReal EstateRetailTechnology

M&A International Inc.Energy

2

M&A International Inc. – we close deals in your industry

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M&A International Inc.Energy

3

Members in the leading financial centers of the world

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A selection of transactions M&A International Inc.Energy

4

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Agricultural Products Pantanal AgroIndustrial S.A.

Advisor to seller Clean Energy Brazilplc, Brazil

Fund investing inBrazilian sugar andbioethanol

Tonon Bioenergía S.A.,Brazil

Produces sugar andethanol

Description of transaction: Advised Clean Energy Brazil on the sale of agricultural assets, owned by its subsidiary Pantanal Agro Industrial, to Tonon Bioenergía for anundisclosed consideration.

Consulting Services FrancEnergies Group Fundraising - privateequity

Private shareholders ofFrancEnergies Group,France

Supports and adviseson renewable energyprojects

AXA Private Equity,France

Private equity

Description of transaction: Advised FrancEnergies´ shareholders on raising a first round of financing, receiving an equity investment of US$3.50 million. The funds will beused to strengthen the group´s presence in France.

Consumable FuelsRefinement andTransport

Delek Group Ltd. Fundraising - otherfinance

Public shareholders ofDelek Group Ltd.,Israel

Holding andmanagement companyin a variety of sectors

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the distributors´ consortium in a bonds issue worth US$138 million. The company´s investments both in Israel andoverseas include energy, infrastructure and water desalination, real estate, finance and insurance, automobiles, biochemicals and telecommunications.

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A selection of transactions M&A International Inc.Energy

5

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Consumable FuelsRefinement andTransport

Delek Group Ltd. Fundraising - otherfinance

Public shareholders ofDelek Group Ltd.,Israel

Holding andmanagement companyin a variety of sectors

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the underwriters´ consortium in a bonds issue worth US$210 million. The company´s investments both in Israel andoverseas include energy, infrastructure and water desalination, real estate, finance and insurance, automobiles, biochemicals and telecommunications.

Consumable FuelsRefinement andTransport

Fate Park Limited (InExaminership)

Strategic advisory Private shareholders ofFate Park Limited,Ireland

Oil distribution N/A, Ireland N/A

Description of transaction: Provided general financial advice to Fate Park´s shareholders during the company´s examinership.

Consumable FuelsRefinement andTransport

Hall Fuels Ltd Advisor to seller Jones Oil Ltd, Ireland Oil distribution Watson Petroleum Ltd,United Kingdom

Distributes oil productsand lubricants

Description of transaction: Acted as the financial advisor to Jones Distribution on the disposal of UK oil distributor Hall Fuels to Watson Petroleum for an undisclosedconsideration.

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A selection of transactions M&A International Inc.Energy

6

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Consumable FuelsRefinement andTransport

Paz Oil Company Ltd. Fundraising - otherfinance

Public shareholders ofPaz Oil Company Ltd.,Israel

Supplies one third ofIsrael´s oilconsumption

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the distributors´ consortium in a bonds issue worth US$180 million.

Consumable FuelsRefinement andTransport

The ICEC Group Advisor to seller Private shareholders ofThe ICEC Group,United States

Distributes sulphur,sulphuric acid andfertilizers

The Oxbow Group,United States

Markets petroleumand calcined cokeamong other activities

Description of transaction: Retained by ICEC´s shareholders to explore strategic alternatives, including a potential sale. Negotiated the sale of ICEC to The Oxbow Groupfor an undisclosed consideration.

DiversifiedManufacturing

Braeside FabricatorsInc.

Advisor to seller Private shareholders ofBraeside FabricatorsInc., Canada

Manufactures pressurevessels and skidpackages for the oiland gas industry

Private investor,Venezuela

Investment

Description of transaction: Acted as the exclusive advisor to Braeside´s shareholders in the sale of the company for an undisclosed consideration.

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A selection of transactions M&A International Inc.Energy

7

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Drilling and FieldServices

CDK Perforating, LLC Advisor to seller Private shareholders ofCDK Perforating, LLC,United States

Provides wellboreperforating andwireline services

SCF Partners, UnitedStates

Private equity with afocus on energyservice and equipmentcompanies

Description of transaction: Advised CDK Perforating´s shareholders on this US$32 million transaction.

Drilling and FieldServices

Excalibur EnergyServices LLC

Advisor to seller Private shareholders ofExcalibur EnergyServices LLC, UnitedStates

Transports fresh andproduced water fromgas drilling andproduction operations

Heckmann Corporation,United States

Provides watersolutions for oil andnatural gas explorationand production

Description of transaction: Advised Excalibur´s shareholders on the US$27 million sale of the company during a long acquisition process through an extremely difficultmarket environment to secure a combination of cash and stock in Heckmann Corporation.

Drilling and FieldServices

Foster Testing, Inc. Advisor to seller Private shareholders ofFoster Testing, Inc.,United States

Support activities for oiland gas operations

Hastings EquityPartners, United States

Private equity

Description of transaction: Advised Foster Testing´s shareholders on the sale of the company to Hastings Equity Partners for US$2.44 million.

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A selection of transactions M&A International Inc.Energy

8

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Drilling and FieldServices

Globe Exploration Ltd. Fundraising - IPO Shareholders of GlobeExploration Ltd., Israel

Gas and oil exploration Institutional and publicinvestors, Israel

Investment

Description of transaction: Acted as a member of the underwriters´ consortium in an IPO on the Tel Aviv Stock Exchange, issuing stocks worth US$12 million.

Drilling and FieldServices

ILDC Energy Fundraising - otherfinance

Public shareholders ofILDC Energy, Israel

Gas and oil exploration Public and privateinvestors, Israel

Investment

Description of transaction: Acted as the lead underwriter in ILDC Energy´s issue of stocks and warrants worth US$8 million.

Drilling and FieldServices

ILDC Energy Fundraising - IPO Public shareholders ofILDC Energy, Israel

Gas and oil exploration Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the underwriters´ consortium in an IPO on the Tel Aviv Stock Exchange, issuing stocks worth US$30 million.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Drilling and FieldServices

Keane & Sons DrillingCo.

Advisor to seller Private shareholders ofKeane & Sons DrillingCo., United States

Drilling and hydraulicfracturing services

Cerberus CapitalManagement, L.P.,United States

Private equity

Description of transaction: Appointed by family members of Keane & Sons to identify a transition plan and diversification strategy. The shareholders sold a majority stake toCerberus Capital Management in an all-cash agreement, retaining an equity share in the company.

Drilling and FieldServices

Potter Trucking, Inc. Advisor to seller Private shareholders ofPotter Trucking, Inc.,United States

Operates vacuumtrucks in the naturalgas and oil sector

Blueknight EnergyPartners, L.P., UnitedStates

Provides mid-streamservices in the energyindustry

Description of transaction: Advised Potter Trucking´s shareholders on the sale of the company to Blueknight Energy Partners for US$6 million.

Drilling and FieldServices

Rockin' R Gas Works,LLC

Advisor to seller Private shareholders ofRockin' R Gas Works,LLC, United States

Flowback services,well testing and testingequipment rental

BJ Services Company,United States

Pressure pumpingservices

Description of transaction: Advised Rockin´ R Gas Works´ shareholders on the sale of the company to BJ Services for an undisclosed consideration.

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A selection of transactions M&A International Inc.Energy

10

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Drilling and FieldServices

SBI Offshore Limited Fundraising - IPO Public shareholders ofSBI Offshore Limited,Singapore

Markets and distributesoffshore equipment

Public and privateinvestors, Singapore

Investment

Description of transaction: Acted as the manager, sponsor and sub-placement agent in SBI Offshore´s IPO and listing on Singapore Exchange Securities Trading Limited’sCatalist. The IPO entails the placement of 20 million new ordinary shares at 27 Singapore cents apiece.

Drilling and FieldServices

The MudloggingCompany, Inc.

Advisor to seller Private shareholders ofThe MudloggingCompany, Inc., UnitedStates

Mudloggingequipment, softwareand services

SCF Partners/TheResevoir Group, UnitedStates

Private equitycompany with a focuson energy service andequipment companies

Description of transaction: Advised the shareholders of The Mudlogging Company, Inc. on the disposal of the company for US$20 million.

Drilling and FieldServices

Wright Trucking, Inc. Advisor to seller Private shareholders ofWright Trucking, Inc.,United States

Transports anddisposes of producedwater from oil and gasproduction

Hastings EquityPartners, LLC, UnitedStates

Private equity

Description of transaction: Advised Wright Trucking´s shareholders on the sale of the company for US$11 million.

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A selection of transactions M&A International Inc.Energy

11

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Electric Utilities EDL-Generation PublicCompany Ltd.

Fundraising - IPO Public shareholders ofEDL-Generation PublicCompany Ltd., Laos

Hydropower Institutional andindividual investors(LSX), Laos

Investment

Description of transaction: Acted as the financial and international placement advisor on the US$120 million combined rights issue and secondary public offering forEDL-Gen, the state-owned power generation company, on the Lao Securities Exchange (LSX).

Electric Utilities System OperatorNorthern Ireland(SONI) Ltd

Advisor to seller Northern IrelandElectricity plc, UnitedKingdom

Electricity utilitycompany

EirGrid plc, Ireland Operates the highvoltage electricitysystem in NorthernIreland

Description of transaction: Advised Northern Ireland Electricity plc on the disposal of its subsidiary, System Operator Northern Ireland (SONI) Ltd, to EirGrid plc for anundisclosed consideration.

Energy Machinery andEquipment

Danstoker Holding A/S,Omnical Kessel- undApparatebau GmbH

Advisor to seller Private shareholders ofDanstoker Holding A/S,Denmark

Manufacturesbiomass-based boilersand waste heatrecovery systems

Thermax Limited, India Produces energy-efficient solutions andcomponents

Description of transaction: Appointed as the strategic and financial advisor to the owners of Danstoker A/S in the sale of the company and its German subsidiary OmnicalKessel- und Apparatebau GmbH, identifying Thermax Limited as the suitable buyer. The acquisition, valued at US$40 million, will play a key role in Thermax´s plans forgrowth in the European energy market.

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A selection of transactions M&A International Inc.Energy

12

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Energy Machinery andEquipment

Deltak, LLC Advisor to seller Global PowerEquipment Group Inc.,United States

Provides equipmentand services to theglobal energy industry

Hamon Corporation,Belgium

Provides specialtyequipment for powergeneration, oil & gasand other industries

Description of transaction: Appointed to negotiate the cross-border divestment of Global Power Equipment Group´s Deltak LLC to Belgium-based Hamon & Compagnie forUS$31 million in cash. Deltak designs and manufactures custom waste heat recovery solutions for the industrial and power generation markets.

Energy Machinery andEquipment

Enerflow IndustriesInc.

Advisor to seller Private shareholders ofEnerflow IndustriesInc., Canada

Engineers andmanufactures customoilfield serviceequipment

National Oilwell Varco,United States

Manufacturesmechanical parts forland and offshoredrilling rigs

Description of transaction: Advised Enerflow´s shareholders on the sale of the company for an undisclosed consideration, initiating the transaction and assisting in itsclosing.

Energy and Utilities 30MW wind park Advisor to seller Veju Spektras,Lithuania

Operates wind farms IRL Wind, Lithuania Invests in facilities ofelectrical powerproduction fromrenewable resources

Description of transaction: Advised Veju Spektras´ shareholders on the sale of 100% of the company´s interest in a 30MW wind energy park in Vydmantai to joint ventureIRL Wind, owned by Baltic investment company UAB Scaent Baltic and Russian energy company INTER RAO JES.

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A selection of transactions M&A International Inc.Energy

13

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Energy and Utilities CBM AsiaDevelopmentCorporation

Fundraising - otherfinance

Shareholders of CBMAsia DevelopmentCorporation, Canada

Gas company withcoal bed methaneexploration inIndonesia

Private investors,Canada

Investment

Description of transaction: Acted as financial advisor to CBM Asia Development Corporation´s shareholders in relation to the private placement of up to 27,777,777 units atC$0.18 per unit on the TSX Venture Exchange: TCF.

Energy and Utilities CBM AsiaDevelopmentCorporation

Fundraising - otherfinance

Shareholders of CBMAsia DevelopmentCorporation, Canada

Gas company withcoal bed methaneexploration inIndonesia

Private investors,Canada

Investment

Description of transaction: Acted as financial advisor to CBM Asia Development Corporation´s shareholders in relation to the private placement of up to 13,446,463 sharesat C$0.32 per share on the TSX Venture Exchange: TCF.

EnvironmentalServices andAlternative Energy

Bionersis Fundraising - otherfinance

Private shareholders ofBionersis, France

Renewable energyspecializing in landfillbio-gas

EDF Trading, France Natural gas and coalacquisition,management andtransportation services

Description of transaction: Advised Bionersis on raising funds to finance a portfolio of projects.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

EnvironmentalServices andAlternative Energy

Conergy GmbH(Helvetic Solar GmbH)

Advisor to seller Conergy AG, Germany Manufactures, installsand servicestailor-made solarsystems

Capital Stage AG,Germany

Private equityspecialized inclean-tech investments

Description of transaction: Advised Conergy AG´s management on the divestment of the company´s Swiss subsidiary Conergy GmbH for an undisclosed consideration.Renamed Helveti Solar GmbH after the divestment, the company is a leading supplier of solar thermal technology in Switzerland.

EnvironmentalServices andAlternative Energy

Energix - RenewableEnergies Ltd.

Fundraising - IPO Shareholders ofEnergix - RenewableEnergies Ltd., Israel

Builds and operatessmall photovoltaicfacilities

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the underwriters´ consortium in an IPO on the Tel Aviv Stock Exchange, issuing stocks worth US$43 million.

EnvironmentalServices andAlternative Energy

Solarcenter MuntwylerAG

Advisor to seller Private shareholder ofSolarcenter MuntwylerAG, Switzerland

Designs and installsphotovoltaic and solarthermal technology

Suniq AG, Switzerland Holding company ofprivate investor

Description of transaction: Advised the owner of Solarcenter Muntwyler AG on an ownership succession, identifying a private investor and owner of an electric installationcompany as the ultimate buyer. Solarcenter Muntwyler AG will continue to operate as an independent subsidiary of the acquisition holding, Suniq AG.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

EnvironmentalServices andAlternative Energy

Termoindustriale Advisor to seller Private shareholders ofTermoindustriale, Italy

Designs, plans andinstalls biomass plantsfueled with vegetableand animal oils

Argos Soditic , Italy Private equity

Description of transaction: Advised Termoindustriale´s shareholders on the sale of the company to Argos Soditic and management for US$7 million.

EnvironmentalServices andAlternative Energy

Wind Energy DirectLimited

Fundraising - privateequity

Private shareholders ofWind Energy DirectLimited, Ireland

Installs and operateswind turbines

ESB Novusmodus LP,Ireland

Cleantech andrenewable energyfund

Description of transaction: Advised the shareholders of Wind Energy Direct Limited on obtaining a US$29 million investment fund from ESB Novusmodus LP. The proceedsof the transaction will be used for the development of onsite wind projects in the energy sector, across the regions of Ireland and Great Britain.

Government Services Northern IrelandElectricity plc

Advisor to buyer Electricity Supply Boardof Ireland, Ireland

Owns an electricitytransmission anddistribution network

Department ofCommunications,Energy & NaturalResources, Ireland

Government dpt. witha 95% share in theElectricity SupplyBoard of Ireland

Description of transaction: Advised the Irish Government’s Department of Communications, Energy & Natural Resources – a 95% shareholder in Ireland´s ElectricitySupply Board – on the acquisition of Northern Ireland Electricity plc in a deal worth US$1.6 billion.

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A selection of transactions M&A International Inc.Energy

16

Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Government Services Photovoltech Advisor to seller IMEC, Belgium Research institutespecialized innano-electronics andnano-technology

Total and GDF Suez,France

Oil and gas

Description of transaction: Advised IMEC on the sale of its stake in Photovoltech to existing shareholders Total and GDF Suez for US$11 million. Photovoltech producessolar cells.

Government Services TRANSPETROL, a.s. Advisor to buyer YUKOS InternationalUK B.V., Slovakia

Subsidiary of YUKOSFinance B.V., a holdingcompany

Ministry of Economy ofthe Slovak Republic,Slovakia

Majority shareholder inTRANSPETROL from2002–2009

Description of transaction: Prepared a valuation of the business and provided strategic buy-side advisory services in the acquisition process behind the Slovakgovernment´s buyback of the 49% stake in the crude oil transporter TRANSPETROL, a.s. from YUKOS International UK B.V. for US$240 million.

Multi-Utilities Bord Gáis Éireann Strategic advisory Public shareholders ofBord Gáis Éireann,Ireland

Transmits, distributesand supplies naturalgas

N/A, Ireland N/A

Description of transaction: Advised Bord Gáis on its capital structure, debt capacity and the development of an outline financing strategy as well as financing alternatives tosupport the Bord Gáis strategy.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Multi-Utilities SWS NaturalResources Ltd

Advisor to buyer Private shareholders ofSWS NaturalResources Ltd, Ireland

Operates wind energyand bioenergy projectsand provides forestryservices

Bord Gáis Éireann,Ireland

Transmits, distributesand supplies naturalgas

Description of transaction: Advised Bord Gáis Éireann on its acquisition of SWS Natural Resources for US$755 million. The acquisition strengthens Bord Gáis´ asset baseand provides renewable resources to meet customer demands.

Oil and Gas Utilities Dor Alon Fundraising - otherfinance

Public shareholders ofDor Alon, Israel

Fuel retailer Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the underwriters´ consortium in a bonds issue, raising US$60 million.

Oil and Gas Utilities Dor Alon Gas Fundraising - IPO Public shareholders ofDor Alon Gas, Israel

Natural gas retailer Public investors, Israel Investment

Description of transaction: Acted as a member of the underwriters´ consortium in an IPO on the Tel Aviv Stock Exchange, issuing stocks and options worth US$10 million.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Oil and Gas Utilities IPC Oil and GasHoldings Ltd.

Fundraising - otherfinance

Public shareholders ofIPC Oil and GasHoldings Ltd., Israel

Oil and gas explorationin the Levantine Basin

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the distributors´ consortium in the issue of stocks and warrants worth US$3 million.

Oil and Gas Utilities KNG Energy, Inc. Strategic advisory Private shareholders ofKNG Energy, Inc.,United States

Natural gas distributor N/A, United States N/A

Description of transaction: Engaged by KNG Energy´s shareholders to assess the company´s value and strategic alternatives.

Oil and Gas Utilities Prosessventiler AS Advisor to seller Private shareholders ofProsessventiler AS,Norway

Supplies and serviceshigh quality valves,mainly to the oil andgas industry

Jotobico Holding AS,Norway

Investment

Description of transaction: Advised Prosessventiler on identifying a new strategic partner or owner. Through a private placement of the family-owned investment companyJotobico Holding, Prosessventiler has increased its share capital. This private placement makes Jotobico Holding the largest shareholder in Prosessventiler, with a 75%stakeholding. All existing shareholders will continue to hold shares.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Oil and Gas Utilities Ratio Oil Exploration(1992) LimitedPartnership

Fundraising - otherfinance

Public shareholders ofRatio Oil Exploration(1992) LimitedPartnership, Israel

Oil and gas exploration Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the distributors´ consortium in the public offering of stocks and warrants worth US$76 million.

Oil and Gas Utilities Sino Gas & EnergyHoldings Limited

Fundraising - otherfinance

Public shareholders ofSino Gas & EnergyHoldings Limited,Australia

Develops Chinese gasassets

Private and publicinvestors, Australia

Investment

Description of transaction: Acted as financial advsior to Sino Gas & Energy Holdings Limited´s shareholders in relation to a share placement of 33,375,000 shares atA$0.04 per share.

Oil and Gas Utilities Tethys PetroleumLimited

Fundraising - otherfinance

Public shareholders ofTethys PetroleumLimited, Canada

Oil and gas explorationand production inCentral Asia

Private and publicinvestors, Canada

Investment

Description of transaction: Assisted Toronto Stock Exchange listed oil and gas company Tethys Petroleum in a share placement exercise. The operation raised someUS$20 million for Tethys.

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Oil and Gas Utilities Tethys PetroleumLimited

Fundraising - otherfinance

Public shareholders ofTethys PetroleumLimited, Canada

Oil and gas explorationand production inCentral Asia

Private investors,Canada

Investment

Description of transaction: Acted as joint bookrunner to Tethys Petroleum Limited´s shareholders in relation to the private placement of 26,062,975 new shares at US$0.52per share.

Oil and Gas Utilities Tethys PetroleumLimited

Fundraising - otherfinance

Public shareholders ofTethys PetroleumLimited, Canada

Oil and gas explorationand production inCentral Asia

Private investors,Canada

Investment

Description of transaction: Acted as the Asian special selling agent to Tethys Petroleum Limited´s shareholders in relation to a share placement of 5,190,000 new shares atUS$1.417 per share on the Toronto Stock Exchange: TSX.

Oil and Gas Utilities Tethys PetroleumLimited

Fundraising - otherfinance

Public shareholders ofTethys PetroleumLimited, Canada

Oil and gas explorationand production inCentral Asia

Private and publicinvestors, Canada

Investment

Description of transaction: Advised Tethys Petroleum Limited´s shareholders on a US$3,40 million share placement exercise.

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A selection of transactions M&A International Inc.Energy

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Sector Target Our role SellerLocation

Activity Acquiror/InvestorsLocation

Activity

Real Estate Premium InternationalHoldings

Fundraising - otherfinance

Shareholders ofPremium InternationalHoldings, Israel

Investments & holdingcompany operating ingas exploration andreal estate in CEE

Public and privateinvestors, Israel

Investment

Description of transaction: Acted as a member of the distributors´ consortium in a bonds issue worth US$6 million.

TransportationInfrastructure

35% stake in MaputoCoal Terminal

Joint venture Grindrod Limited,South Africa

Integrated logisticsservice supplier

Vitol, Netherlands Independent energytrader

Description of transaction: Advised Grindrod Limited on the sale of 35% of its shares and loan claims in Maputo Coal Terminal, owned by its subsidiary Grindrod MauritiusLimitada, to Vitol for US$74.60 million. Maputo Coal Terminal in Mozambique is a 6 million tonne terminal for the export of coal and magnetite. In addition Vitol and Grindrodwill enter into a partnership (65% Vitol/35% Grindrod) to combine their respective sub-Saharan coal trading businesses.

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M&A International Inc.Energy

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Main Energy Specialists

Country City, State Contact EmailAustralia Sydney Paul Young [email protected] Brussels Pierre Lebeau [email protected] São Paulo Gianni Casanova [email protected] Sofia Dimitar Kostadinov [email protected] Montreal Jean-Patrick Lariviere [email protected] Toronto Kurt Schurer [email protected] Santiago Arnoldo Brethauer [email protected] Hong Kong Adrian Bradbury [email protected] Shanghai Jennifer Guan [email protected] Bogotá Francisco Aduriz [email protected] Republic Prague Milos Cebik [email protected] Copenhagen Henrik Audon [email protected] Tallinn Heikki Källu [email protected] Helsinki Claes von Heiroth [email protected] Paris Thibaut de Monclin [email protected] Stuttgart Michael Thiele [email protected] Budapest Dániel Schilling [email protected] Mumbai Sudarshan Mohatta [email protected] Dublin Raymond Donegan [email protected] Tel Aviv Tomer Segev [email protected] Turin Davide Eugenio Milano [email protected] Tokyo Taro Okayama [email protected] Vilnius Karolis Pocius [email protected] Mexico City Alejandro Rocha [email protected]

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M&A International Inc.Energy

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Main Energy Specialists

Country City, State Contact EmailNetherlands Amsterdam Maarten Wolleswinkel [email protected] Oslo Nikolai Lunde [email protected] Singapore Alistair Burgoyne [email protected] Bratislava Martin Smigura [email protected] Ljubljana Jure Jelerčič [email protected] Africa Johannesburg Yaron Zimbler [email protected] Madrid Gustavo Casanova [email protected] Berne Juraj Janos [email protected] Kingdom London Azhic Basirov [email protected] Kingdom London Michael Jewell [email protected] States Atlanta , GA Alexander C. Mammen [email protected] States Boston, MA Jerome S. Romano [email protected] States Chicago, IL S. Jack Campbell [email protected] States Cleveland, OH Joseph G. Carson [email protected] States Dallas, TX Paul Puri [email protected] States New York, NY W. Gregory Robertson [email protected]

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Established in 1985, M&A International Inc. (www.mergers.net) offers theunparalleled, global resources of over 600 M&A professionals operating inevery major financial center of the world (www.mergers.net/members).

We are closely linked and together we advise our clients on acquisitions,divestitures and financing. We have closed 1,300 transactions totaling morethan US$75 billion in transaction value in the past five years.

Founders of the M&A Mid-Market Forum (www.midmarketforum.com)

© 2013 M&A International Inc. All rights reserved. M&A International andM&A International Inc. refer to the member firms of M&A International Inc.,each of which is a separate and independent legal entity. M&A InternationalInc. does not provide advisory services. Monetary values are converted toUS dollars at rates in force at the initial time of publication.

Published: November 2013