Ikarus Petroleum Industries Company

The Ikarus team has unrivalled experience in the Middle East energy industry, and has set out a strategy that builds on this strength through the strict application of clear investment criteria. The objective of the Ikarus strategy is to achieve a substantial increase in shareholder equity by 2014 through the creation of a focused energy operating group within the following strategic boundaries:

· Located in the Middle East & North Africa (MENA) region.
Primary energy sources including oil, gas and petrochemicals feed stocks are more competitively priced in MENA than anywhere else in the World. Manufacturing assets located in MENA enjoy a competitive advantage that is sustainable in the long term. The Ikarus network in the MENA region will also ensure a high quality deal flow. MENA is defined as the Arab states in the Middle East and North Africa, together with Iran and Turkey.

· Energy Sector.
In addition to its existing holdings in Petrochemicals, Ikarus will build an integrated group of energy related operations including upstream oil & gas; midstream e.g. gas processing; chemicals & polymers. Asset intensive service companies might also form part of the group if they bring value through synergies with other Ikarus assets.

· Controlling Stake
One of the distinctive benefits that Ikarus brings to its portfolio is the ability to add value to the invested company's operational effectiveness. It achieves this by treating all it investments as strategic assets, not as financial investments. In order to work effectively with management, Ikarus will invest in businesses where we can acquire a controlling share of the company's stock.

· Operating Assets
Ikarus favours investments in companies which are already in operation, or which are moving into the operating phase in the next 12 months. Whether the target company is in manufacturing or services, we invest in operations based on the deployment of tangible assets.

· Cash Generation
Ikarus’ focus is on generating cash returns for our shareholders. To achieve this we invest in companies with the potential for sustainable cash drawings

Growth Story
Ikarus is a strategic partner, and we look to our investments to provide long term growth for our shareholders. We work with our group companies to identify growth opportunities through capacity expansion, extension of the product slate, productivity improvement or other means of capitalizing on a sustainable competitive advantage.