AEL and RAK Petroleum Sign MOU

Anzon Energy Limited has signed a Memorandum of Understanding (MOU) with Ras Al Khaimah Petroleum PJSC. Ras Al Khaimah is one of the seven Emirates forming the Federation of the United Arab Emirates. In addition to the MOU RAK Petroleum will be making significant financial commitments to the Anzon Group.

The MOU provides a platform for the Company to pursue international oil and gas opportunities with RAK Petroleum. Initially the particular focus will be on the Middle East where the special relationships held by RAK Petroleum will assist the rapid growth of E & P opportunities for evaluation by AEL. The intention is for the two companies to expand their interests beyond the Middle East with clearly stated objectives of building a major influential E&P group in several geographic locations. A combination of RAK Petroleum’s influence and AEL’s technical management expertise coupled with the financial capacity of the two organisations underpins the rapid projected growth of this new alliance.