United Energy Group Limited provided group earnings and impairment guidance for the financial year ending 31 December 2015. The group is expected to record a loss for the financial year ending 31 December 2015 as compared to that of last financial year. The board anticipates that the loss is mainly attributable to possible recognition of a relatively large non-cash accounting impairment loss on the oil exploitation rights of Liaohe EOR Project in China, principally due to: significant decline of oil price in the international commodity market in 2015 and the strategic reduction in capital expenditure for the production of oil in view of the outlook under the preliminary development plan.

The group is also expected to recognize a non-cash accounting impairment loss due to dry wells issue. As at the date hereof, the group is still ascertaining the amount of the accounting impairment loss for the year ending 31 December 2015 which is subject to finalization of oil reserve report and valuation report. Further announcement on the accounting impairment loss to the group will be made before the publication of the final results announcement of the company for the year ending 31 December 2015 if required.