MIE Holdings Corporation has had certain assets of Sino Gas and Energy Limited (SGE) valuated

MIE Holdings Corporation (MIE) entered into a sale and purchase agreement with Sino Gas and Energy Holdings Limited (SGEH) to invest up to 51% in Sino Gas and Energy Limited (SGE).

Sino Gas and Energy Limited (SGE) is the major asset of Sino Gas and Energy Holdings Limited (SGEH).

MIE entered into two agreements in relation to two financing transactions of US$400 million and US$200 million bond agreements, under which terms certain assets are deemed to be restricted. In order to facilitate that some restricted assets are reclassified as non-restricted, MIE has to meet certain financial criteria and one of these requirements is that an independent investment bank shall provide an opinion addressed to the directors of MIE in respect of its view of a reasonable and fair valuation of SGE.

MIE Holdings Corporation was founded as one of the leading independent upstream oil and gas companies operating onshore in China. Headquartered in Hong Kong, the company's major activities involve the exploration, development and production of oil and gas in China, Kazakhstan and the USA. MIE currently operates six oil and gas producing blocks and four oil gas exploration blocks in China, Kazakhstan and the USA. Fast East Energy Limited is MIE Holdings Corporation's majority shareholder.

Oaklins' team in Hong Kong acted as financial advisor to MIE Holdings Corporation and provided valuation assessment of certain SGE assets.