WE Holdings

WE Holdings: together with Myanmar businessman, Nay Win Tun, have acquired a JVCo in Singapore, WE Dragon Resources, to assess potential petroleum, oil and gas and related resources business opportunities in Myanmar. In addition, the co has entered into a non-binding MOU with Nay Win Tun for a proposed collaboration through a ProjectCo, to carry out petroleum operations projects (incl exploration, drilling, extraction, recovery and trading of petroleum pdts) in five target oilfields in Myanmar. Separately, the ProjectCo shall also seek business opportunities and collaboration with small scale local owners of oilfields. The proposed collaboration is conditional upon the ProjectC’s successful application of a large scale petroleum operations permit from the Myanmar Govt.