The Board of Shumba Energy Ltd. to notify its shareholders and the public that Shumba has concluded a joint venture partnership which has led to it holding 80% of the equity in Coal Petroleum Ltd. ("CoPet"). CoPet has partnered with Powerchina International Group Limited ("PowerChina International") and Wison Group ("Wison"), both leading Chinese EPC companies with a proven track record and recent experience in the coal-based power & CTL technologies for the execution of the Bankable Feasibility Study ("BFS"). They are in the process of completing the technical aspects of the BFS to a detailed and accurate capital and operating cost estimation required to secure the project execution funding. Shumba is continuing to engage with its partners Powerchina International and Wison on technical and project development issues, also on funding matters, including potential equity and project financing options.