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Selena Oil & Gas Holding AB: Investor consortium withdraws guarantee.

Selena Oil&Gas Holding AB (publ.) (SOGH), announced on 20 March, that the
Company had entered into a letter of intent with an investor consortium on a
guarantee of an issue to finance the Company's development plans in Perm.

The Consortium has announced to the management of the Company that it does not
intend to pursue the letter of intent. This is due to lawsuits in progress at
the Stockholm District Court and the legal uncertainty that exists regarding
the prospect to register the emission.

- "The Company is subject to an attack from a minority shareholder. This is
the principal reason behind the withdrawal of the guarantee, "says Magnus
Stuart, CEO of Selena Oil&Gas Holding AB (publ.).

Following this development, the Company is evaluating opportunities to take
appropriate legal actions including damages and adequate enforcement

For further information, please contact:

Magnus Stuart, Managing Director

mobile +46 706 211 350,


Selena Oil&Gas Holding AB (Publ) (former Emitor Holding AB) is engaged in the
exploration, and production of oil and gas in the Volga-Ural region in the
Russian Federation, around Perm. The Company´s shares are temporarily not
publicly listed, but the Company observes all rules, practices and policies
for any company subject to public listing. Selena Oil&Gas Holding AB are in
process of seeking for a new listing. Mangold Fondkommission serves as before
as the company´s Adviser on public information.

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