EUROPE

TURKEY

and geophysical information bringing not insignificant financial and social benefits for Turkey. With its rich data-base and library of information, AME has helped to attract a large number of American and European energy companies to Turkey as first time investors in the oil and gas sector.

AME is an industry leader in the Turkish upstream and the most senior private player, the country second only to TPAO, the national oil company. AME’s success is a credit to our superior staff of professionals whose dedication, knowledge and skill allow AME to find new and innovative ways to develop value for our partners and investors.

AME is committed to respecting the environment, maintaining safety and upholding high standards of social responsibility throughout its operations. AME's success is built on technical expertise, business acumen, strong partnerships and proven ability to deliver superior results.

Every indicator shows that global oil demand will continue to grow and AME is positioned like never before to increase production and achieve higher returns due to its favorable structure.

At AME, we strive each day to live up to the legacy of excellence associated with our Company name, and I know that we will continue to grow value for our shareholders with our promising oil and gas exploration and development projects. Earlier this year AME raised US$20 million in new equity from 4D Global Energy Advisors SAS (“4DGEA), a Paris-based private equity investor that specializes in the energy sector.

The equity financing will enable AME to finance its committed and contingent work programmes and working capital to build on its asset base in the Republic of Turkey.

In a recent interview Cem Sayer, Chairman of the Board and President of AME, commented: “Over the past two years, we have focused on restructuring AME to realize the value in AME’s promising oil and gas assets and to enable us to use that existing asset base to accelerate growth in the Company. In particular, we exited the drilling services sector, enabling us to concentrate solely on E&P projects. We are extremely pleased to welcome 4DGEA

into AME, and we believe their investment will prove to be profitable both for 4DGEA and for our other investors.”

Mr. Sayer added, “AME is uniquely positioned as the oldest independent oil and gas company in Turkey, with in-depth knowledge, data and expertise in the region, and will look to continue to develop its core business, participating in several existing Joint Ventures in South East Turkey, exploiting its new oil discoveries, and participating in new projects in The country and the surrounding region. AME, strengthened by 4DGEA, is well positioned to capitalize on both conventional and unconventional oil and gas production opportunities in Turkey, and to benefit from the country’s favorable fiscal terms. This is indeed a new and exciting chapter in AME’s long history.”

Tighe Noonan, the founding partner of 4DGEA, recently joining the AME Board said, “We are extremely pleased at the prospect of working together with Cem and his team both at the Board and Shareholder levels, and of bringing our experience and industry knowledge to the Company as Cem seeks to grow the business. Under his leadership, we are confident that AME will be able to fully deploy its exceptional asset base and to fulfill the aspirations of its visionary Founders”.

Our Philosophy Our basic formula and business philosophy

have been proven by the test of time and have remained unshakeable throughout the years: • Utilize innovative technology and expertise to find and exploit new opportunities

• Take prudent financial risks for long-term profitability

• Apply expert operational and financial skills to efficiently manage our asset base

• Provide our employees with a rewarding work environment

Our Mission We aim to ensure the likelihood of success

for each investment we make. To this end, we are continuing with our strategic plan which positions us to remain a significant participant in the oil and gas industry for years to come. As a privately-held company, we can take advantage of benefits such as: • focus on growing value, not growth for growth's sake

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• strategize for long-term results • execute quickly on value-added opportunities

Our Strengths Our strength lies in the ability to combine a

deep understanding of our core regions with commercial and technical expertise in order to leverage value from material opportunities. Our position as the most experienced non-state operator in Turkey underlines our proven operational skills. We have the expertise, knowledge and skill to benefit from the evolving Turkish oil & gas landscape and return value to partners.

Our Values At AME we believe in holding ourselves to

the highest standard. We are committed to accomplishing our goals through hard work, discipline, and integrity. AME is committed to safe operations and responsible environmental practices. We value and respect our employees, partners, purchasers, suppliers and the communities in which we live and do business. We have worked hard to earn the trust of every company we have partnered with through the years and we will preserve, honor and expand that trust in the years ahead.

Our Strategy Our goal is to enhance value through

profitably increasing reserves, production and cash flow by executing a three-fold strategy attracting and using the best available of the most talented and experienced technical personnel. Our people are at the heart of what makes AME such a successful and dynamic Company:

a)Multi-year Project Inventory: We believe our multi-year drilling and exploitation inventory of drilling locations and recompletion projects on our existing properties will allow us to grow our proved reserves and production for the next several years.

b)Enhanced Production: By evaluating additional productive horizons underlying our existing producing assets, we can increase our production from existing properties. This allows us to develop new sources of production without the cost of new exploration.

c)Pursuit of Emerging Plays: AME plans to aggressively pursue the acquisition, exploration and development of emerging oil and natural gas plays. We