TSC Signs Subscription Agreement with Canadian Company

On October 16, 2014, TSC United Limited, a wholly-owned subsidiary of TSC Group Holdings Limited ("TSC"), entered into a subscription agreement with Persta Resources Inc. ("Persta"), for the subscription of Class "C" non-voting common shares in the capital of Persta representing 2.5% of the existing issued share capital of Persta. The total consideration for the subscription is Canadian $5 million.

The subscription was agreed on an arm's length basis with Persta having regard to the net present value and return on investment derived from the recoverable reserves in several of Persta's producing fields, its field development plan, production forecasts, as well as pricing and upside potentials from certain of its undeveloped fields.

Persta, is a private Calgary-based oil and gas exploration development company that was founded in 2005 in Alberta, Canada focusing on exploration, development and production of liquids-rich natural gas and light oil resources in Western Canada.

Through the subscription agreement, TSC has further cemented its capability to provide comprehensive solutions to the onshore unconventional oil and gas industry. Moreover, TSC will act to leverage Persta's extensive exploration expertise to gain a more in-depth understanding of clients' needs. TSC and Persta will look to create synergies and achieve mutually beneficial future business growth in North America, especially Canada.

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