Investment and Divestment in 2014
• On 19 August 2014, the Company, through Medco
Tunisia Petroleum Limited, a wholy-owned subsidiary
entity, completed the acquisition of 100% shares of
Storm Ventures International (Barbados) Ltd. (“SVI”)
with Storm Ventures International (BVI) Ltd. as
the Seller. The transaction became effective on 1
January 2014 with a total transaction of US$ 127.7
million. Storm Ventures International (BVI) Ltd. is a
subsidiary entity of Chinook Energy, Inc. Which is
listed on the Toronto Stock Exchange. Approval from
the government of Tunidsia and from several working
partners in those corresponding blocks were obtained
on 18 August 2014. Pursuant to the effective date of
1 January 2014, MedcoEnergi will have had ownership
to eight areas that comprise of four exploration blocks,
two development blocks and two production blocks.
• On 20 March 2014, the Company, through MDI, a
wholly owned subsidiary entity, signed an Share