Corporate Profile

Key Criteria of SPAC

Risk Factor

Business Approach

Industry Overview

Our People

Audit Committee

Nomination and Renumeration Committee

Risk Management Committee

Milestones

 

Risks Relating to Our Business and Operations Prior to Completion of our Qualifying Acquisition (“QA”)

  1. Our Company does not have any operating history and trading record, and accordingly, IPO Investors may not have a conventional basis on which they may evaluate our ability to achieve our business objective.

  2. Our Company has yet to select an asset with which to complete a Qualifying Acquisition and IPO Investors are therefore unable to ascertain the merits or risks of the asset which our Company may ultimately acquire.

  3. Our ability to successfully complete a Qualifying Acquisition and operate the asset will be dependent upon the expertise and experience of our Board and Management Team.

  4.  If our Company is unable to complete a Qualifying Acquisition within the Permitted Timeframe and is forced to liquidate and distribute the funds in the Cash Trust Account, IPO Investors (including Dissenting Shareholders) will receive less than the Issue Price and our Warrants will expire.

  5. We may not be able to complete a Qualifying Acquisition within the Permitted Timeframe.

  6. If the funds available to us outside of the Cash Trust Account are insufficient to allow us to operate during the Permitted Timeframe, our Company may be unable to complete a Qualifying Acquisition.

  7. The requirement to undertake the Qualifying Acquisition Share Repurchase and our potential inability to obtain financing may limit our ability to pursue our desired Qualifying Acquisition.

  8. We may not be able to pursue our desired Qualifying Acquisition because of our limited resources.

  9. The requirement for us to complete a Qualifying Acquisition within the Permitted Timeframe may affect our ability to obtain optimal terms.

  10. Our financial resources may only allow us to complete the acquisition of one (1) asset as our Qualifying Acquisition.

 

 Risks Relating to Our Business and Operations Post Completion of our QA

  1. A foreign asset could be subject to additional risks in its operating environment that may negatively impact our business.

  2. Our Company is exposed to operational risks in relation to the acquired asset

  3. Our Company is exposed to corporate governance issues in relation to the acquired asset.

  4. Our Company is exposed to evaluation risks particularly in relation to exploration and development of oil and gas fields.

  5. Our Company’s performance is dependent on oil and gas prices.

  6. Changes in government initiatives, policies, regulations and laws towards the oil and gas industry may materially affect our ability to realise the expected benefits from our Qualifying Acquisition.

  7. Our Company is exposed to risks in the financial markets.

  8. Our Company is exposed to risks in relation to management of costs, IT and technology.

  9. High standards of HSE management are crucial to our Company’s operations.

  10. The oil and gas industry is exposed to exploration, development and production risks.

  11. The long term potential value of an E&P company is reliant on its oil and gas reserves.

  12. There is an on-going shortage of skilled and experienced manpower in the oil and gas industry.

  13. There is strong competition for access to oil and gas resources.

  14. Our Company is reliant on the infrastructure of third party providers.

  15. Our Management Team through Platinum Autumn, controls 20% interest in our Company and thus may influence certain actions requiring shareholders’ vote.

  16. We may issue additional Shares or debt securities or source for external borrowings in future.

  17. Our Company may in future enter into business arrangements with some attendant risks.

 

 

 

Sona Petroleum
Sona Petroleum Berhad was formed by
a group of experienced senior professionals
who are passionate about and are active in
the oil and gas industry.

Sona Petroleum Berhad
(formerly known as Titanium Windfall Sdn Bhd)
Level 24, Menara 3 PETRONAS,
Persiaran KLCC, Kuala Lumpur City Centre,
50088 Kuala Lumpur, Malaysia
Tel: +6 03 2164 3318
Fax: +6 03 2164 3691

©2014 Sona Petroleum Berhad (Company No. 945626-P)