PRESS RELEASE Malabo – October 5th, 2010   MOU SIGNED BETWEEN MINISTRY OF MINES, INDUSTRY AND ENERGY, GEPETROL AND THE KOREAN NATIONAL OIL CORPORATION (KNOC) The Ministry of Mines, Industry and Energy is pleased to announce that on September 24th, 2010, a Memorandum of Understanding (MOU) was signed in Malabo between the Ministry, GEPetrol (the national oil company of Equatorial Guinea) and South Korea’s national oil company, the Korean National Oil Corporation (KNOC). The MOU aims to create a strategic alliance to develop opportunities in the hydrocarbon sector and was signed by H.E Marcelino Owono Edu, Minister of Mines, Industry and Energy and Mr Lee Hong Geum the Vice President of KNOC. The MOU between the Ministry and KNOC is an indication of the mutual interest which has developed between the two countries as a result of the recent visit by S.E President Teodoro Obiang Nguema Mbasogo, to South Korea in August, 2010.