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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.



ASIA ENERGY LOGISTICS GROUP LIMITED

亞 洲 能 源 物 流 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 351)


PROGRESS UPDATE ON THE DISPOSALS AND

DELAY IN DESPATCH OF CIRCULAR


Reference is made to the Announcements in relation to, among other things, the Very Substantial Disposal and Connected Transactions of the Company.


PROGRESS UPDATE ON THE DISPOSALS


The Board wishes to update the potential investors of the Company and the Shareholders that the Company, the Vendor and the Purchaser have been working closely together to address the outstanding issues mentioned in the Announcements but additional time is required to resolve those issues.


DELAY IN DESPATCH OF CIRCULAR


The Board also wishes to announce that the despatch of the Circular will be delayed to on or before 31 January 2016.


Reference is made to the announcements of Asia Energy Logistics Group Limited (the ''Company'') dated 28 February 2014, 21 March 2014, 25 April 2014, 30 May 2014, 27 June

2014, 31 July 2014, 29 August 2014, 23 September 2014, 31 October 2014, 31 December 2014,

27 February 2015, 29 May 2015 and 28 August 2015 respectively (collectively, the ''Announcements'') in relation to, among other things, the Very Substantial Disposal and Connected Transactions of the Company. Unless otherwise specified, terms used in this announcement shall have the same meanings as defined in the Announcements.


PROGRESS UPDATE ON THE DISPOSALS


The Board wishes to update the potential investors of the Company and the Shareholders that the Company, the Vendor and the Purchaser have been working closely together to address the outstanding issues mentioned in the Announcements but additional time is required to resolve those issues.

During August to October 2015, 市縣政府聯合協調工作組 (Municipal and County

Governments Joint Coordination Working Group*) convened several meetings with the Target Companies, the overlaid mine owner and 河北省地礦局國土資源勘查中心 (Hebei

Province Bureau of Land and Mineral Resources Exploration Center*) (the ''Exploration Center'') to coordinate the discussion and negotiation in respect of the compensation payable to the overlaid mine owner. It has been concluded that the Exploration Center would prepare a separate verification report on the mineral resources within the parameter of 300 meters of the newly constructed Zunxiao Railway (Tangshan Section). The said report is expected to be available in late November 2015 for further discussion among all the parties involved. With the support from various municipal and county government departments, the Target Companies anticipate to resolve the outstanding issues of the compensation payable to the overlaid mine owner by the end of year 2015.


DELAY IN DESPATCH OF CIRCULAR


As disclosed in the Announcements, it was expected that the Circular containing, among others, further information about the Disposals and a notice of general meeting would be despatched to the Shareholders on or before 31 October 2015. As additional time is required for the Company to finalise the financial and other information of the Group for disclosure in the Circular and to resolve the issues stated above, the despatch of the Circular will be delayed to on or before 31 January 2016.


By order of the Board

Asia Energy Logistics Group Limited Liang Jun

Executive Director


29 October 2015


As at the date of this announcement, the executive directors of the Company are Mr. Liang Jun, Mr. Fung Ka Keung, David, Ms. Yu Sau Lai and Mr. Tse On Kin; the non-executive directors of the Company are Mr. Yu Baodong (Chairman) and Ms. Sun Wei; and the independent non- executive directors of the Company are Mr. Chan Chi Yuen, Mr. Zhang Xi and Prof. Sit Fung Shuen, Victor.


* The English translation of the Chinese name is for information purpose only and should not be regarded as the official English translation of such Chinese name.

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