Due to financial constraints imposed by the increased subsoil use taxation as well as PJSC Ukrgasvydobuvannya’s, as the Company believes, manifestly unlawful actions, the Misen Group almost completely halted investments into the development program in 2017.

During 2017, Misen Enterprises AB invested KSEK 7,654 (compared to KSEK 14,508 invested during 2016) in the JA development programmes. The investments were mainly made in metering units as well as maintenance of BCSs already in exploitation.

As of 31 December 2017, Misen Group led JA invested a total of MSEK 3,037 (MUSD 370) into the development programmes and has reached the following major milestones:

• at 86 wells repair works using the most up-to-date technical solutions were undertaken,
• 70 wells were commissioned,
• 7 BCSs from 11 were commissioned including Khrestyschenska, the largest of its kind in Ukraine,
• 4 BCS were at the final stages of construction.