CLARIFICATION

Vol 17, PW 7 (31 Oct 13) News in Brief

With reference to an article in Petrowatch dated: Oct 17, 2013, regarding payment issues with Jay Polychem.

We wish to put on record that nobody in Quippo Oil & Gas has spoken to Petrowatch about any matters with regards to Jay Polychem. We wish to disassociate ourselves from the contents of the article in which references have been made to Quippo and its client.