KUWAIT ENERGY PLC
NOTES TO THE CONDENSED SET OF FINANCIAL STATEMENTS
For the nine month period ended 30 September 2017
CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS
Contingent liabilities - letters of guarantee
Agreement to purchase shares
Capital commitments includes committed seismic expenditures, exploration and development well drilling as specified
in the exploration and development licences.
Subsequent to the period ended 30 September 2017, the Group and KEC SPV 1 (an entity managed and controlled by
Abraaj Investment Management Limited) holding 50% of the convertible loans principal amended certain terms of the
convertible loan agreement to defer the first repayment date by 2018 half-year end. The lender have option to request
conversion of loan into ordinary shares of the Company prior to the first repayment date in certain circumstances as
set out in the loan agreement.