The board of directors of NewOcean Energy Holdings Limited announced that based on the preliminary review of the unaudited financial statements of the group for the six months ended 30 June 2013, the consolidated profit after tax of the group for the period is expected to increase substantially compared with that for the corresponding period in 2012. The increase is mainly driven by: The increase in segment profit from the business segment of sales and distribution of liquefied petroleum gas (LPG). For the six months ended 30 June 2013, the group has increased its LPG sales to industrial customers with higher profit margin and at the same time the average cost outlay of the Group's LPG purchases has lowered through the adoption of effective financial matching arrangements.

Since February 2013, the Group has been replacing Reminbi borrowings with United States Dollars borrowings which resulted a lower finance cost for the six months ended 30 June 2013 compared to the corresponding period in 2012.