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1 January 2008 UI Energy Corporation Challenge the Future & Change the World.

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Presentation on theme: "1 January 2008 UI Energy Corporation Challenge the Future & Change the World."— Presentation transcript:

1 1 January 2008 UI Energy Corporation Challenge the Future & Change the World

2 2 Forward Looking Statements This document includes forward-looking statements. Forward-looking statements are not guarantees of performance. Although UI Energy Corporation believes its expectations reflected in forward-looking statements are based on reasonable assumptions, no assurance can be given that these expectations will be achieved. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include, among others: the timing and extent of changes in commodity prices for crude oil, natural gas and related products, foreign currency exchange rates, and interest rates; the timing and impact of liquefied natural gas imports; the extent and effect of any hedging activities engaged in by UI Energy Corporation; the extent of UI Energy Corporation’s gas properties’ the accuracy of reserve estimates, which by their nature involve the exercise of professional judgment and may therefore be imprecise; the availability and cost of drilling rigs, experienced drilling crews, materials and equipment used in well completions, and tubular steel; the availability, terms and timing of governmental and other permits and rights of way; the availability of pipeline transportation capacity; political developments around the world; acts of war and terrorism and responses to these acts; weather; and financial market conditions. In light of these risks, uncertainties and assumptions, the events anticipated by UI Energy corporation’s forward-looking statements might not occur. Forward-looking statements speak only as of the date made and UI Energy Corporation undertakes no obligation to updated or revise its forward-looking statements, whether as a result of new information, future of new information, future events of otherwise.

3 3 I. Introduction II. Current Business III. Future Business Table of Contents

4 4 I. Introduction UI Group

5 5 I. Introduction Joint Venture Partners of UI Energy Bina Bawi (Iraq) Bazian (Iraq)Gulf of Mexico (USA)

6 6 I. Introduction Corporate Structure

7 7 I. Introduction ClassificationContents CEOKyu Sun Choi Date of EstablishmentAug. 1, 1987 Listed Code Issued Shares Kosdaq Stock Market (050050) 36million shares Market CapitalizationUSD 220 million (end of Dec., 2007) Major ShareholdersUI enc Corporation 10.72% Kyu Sun Choi Executive Vice-President of UI Energy Corporation 7.24% Jeffrey Jones, former Chairman of US Chamber of Commerce & Industry 0.70% Major Business AreasEnergy development, installation and management of electric power generation equipment, medical equipment supply and mineral resources development Headquarter / Contact9 th Floor, Sambu Bldg 676 Yeoksam-dong, Gangnam-gu, Seoul /

8 8 II. Current Business Areas of oil exploration and production operation Gulf of Mexico West Africa Accra, Ghana Middle East Iraq

9 9 II. Current Business Bina Bawi (Iraq)Bazian (Iraq) 1. Estimated oil reserves1.6 billion barrels0.5 billion barrels 2. UIEnergy’s share of reserves0.16 billion barrels (10%)25 million barrels (5%) 3. Daily production21,971 barrels3,424 barrels 4. Working interest Oil Search Ltd. 30% Prime Natural Resources Inc. 30% PetOil Holdings 20% Hillwood Energy international 10% UI Energy Co. 10% Korea National Oil Corporation (38%) SK Energy (19%) Daesung Industry, Samchunri, Bum-A Resource Development (Each 9.5%) GS Holdings, Majuko Trade (Each 4.75%) UI Energy Co. (5%) 5. Capital expenditure (UIEnergy’s share) USD 3.2 billion ( USD 0.3 billion )USD 1.0 billion (USD 50 million) 6. Estimated amount of dividend (USD 80 per barrel) USD 3.2 billionUSD 0.5 billion 7. Estimated dividend per yearUSD 0.16 billionUSD 25 million 8. Expected commencement of production Mar. 2009Dec Summary of petroleum exploration and development projects

10 10 II. Current Business Kurdistan Concession Map

11 11 II. Current Business Accra, off shore GhanaGulf of Mexico (5 blocks) 1. Estimated oil/gas reserves450 million144 billion cubic feet of gas 2. UIEnergy’s share of reserves34 million10 billion cubic feet of gas 3. Working interest Afex Int’l 25% Realto 10% CMI 32.5% UI Energy Co. 7.5% Concluded exclusive joint venture contract with CMI corporation, 100% subsidiary of Transocean (Listed company in US New York stock exchange with around USD 53 billion market capitalization) which is the largest offshore drilling company in the world. The JV agreement allows UI Energy to take at least 20% of all CMI’s stakes in all its projects. 4. Current activitiesContract negotiation in progressDrilling in process 5. Capital expenditure (UIEnergy’s share) -USD 6.3 million Summary of petroleum exploration and development projects

12 12 II. Current Business Packaged Power Station Medical Equipment 1. AreaKurdistan area, northern Iraq 2. The other party of contractAutonomous Government 3. Description of business Construction and Installation of 306 MW Packaged Power Station Construction of 400-bed hospital and supply of medical equipments for that hospital 4. Current activities Supplied 1 st shipment of 51 MW PPS manufactured by Hyun-dai Heavy Industries Co. and test run in progress Construction of 400-bed hospital in Sulaymaniyah city 5. Sales amountUSD 21.2 millionUSD 2.1 million 6. Expected sales amountUSD millionUSD 33.3 million 7. Remarks A single largest contract ever signed by companies listed on KOSDAQ Other Business

13 13 III. Future Business Drilling Service BusinessConstruction BusinessIron Mining Business 1. AreaKurdistan area, northern Iraq 2. Description of business Provide drilling service to operating companies Construction of pipelines and other infrastructures Executed memorandum for 800-km2 iron mining development project in Penjween area, Sulaymaniyah 3. Current activities Expected to sign service contract with Korean Consortium for Bazian Block Business development in progress Signed joint venture agreement with Nokan, a local company, and Kurdistan Autonomous government 4. Expected sales amount USD 1.7 billionUSD 2.2 billionUSD million 5. Remarks KNOC is expected to open local office 1st Qtr, 2008 Completed iron ore sample analysis by Korea Institute of Geoscience & Mineral Resources Other Business


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