Alpha PetroVision : increases profit in first half of 2015

Press Release

St. Gallen, 8. September 2015 - Alpha PetroVision Holding AG (APV, SIX:APHN) increased its profit in the first half of 2015 to CHF 1.6 million. In the comparable prior year period APV posted a loss of CHF 3.7 million. The sale of 50% of the royalty interest in the production of the Paul Prospect oil field in Colorado for USD 5.2 million in May 2015 contributed to the good result.

Due to the low oil price APV did not push its production. The average production level for the first half of 2015 stood at 91 barrels per day and was, therefore, approximately 25% below the level of the prior year (121 barrels per day). For the entire first half year the Company sold 17 517 barrels (first half-year 2014: 21 773), as a result of which revenue from the sale of oil fell from CHF 1.7 million in the prior year period to CHF 0.8 million in the reporting period. In total, APV generated earnings of CHF 6.1 million from the sale of oil and receipt of

royalty interests in the first half year (first half 2014: CHF 4.5 million). Operating expenses fell markedly from CHF 11.1 million in the first half of 2014 to CHF 4.2 million in the first half of

2015. This decrease is attributable, on the one hand, to the fact that there was no necessity for a valuation adjustment to the oil fields and on the other to significantly reduced direct costs for the oil business. The review of the earn-out arising from the sale of the funds business of Innoven in 2011 resulted in an increase in value, recognized in the Statement of Comprehensive Income, of CHF 1.2 million. The profit of CHF 1.6 million for the first half year corresponds to earnings of CHF 0.01 per share, compared to a loss of CHF 0.02 per share in the previous year.

Over the past months APV has consistently focused on increasing the efficiency of oil production at the McCamey oil field. The Company has built up a local team that will bring fresh impetus to oil production. Giving responsibility for oil production to a local team also means that it has been possible to reduce direct costs markedly. In the first half of 2015 these were only half what they had been 12 months previously. APV is also making good progress with the plugging of the old wells, a duty imposed on APV by the regulatory authorities. As of the middle of the year 21 of the 38 wells envisaged in 2015 had been plugged; the costs were in line with the provision meaning that no further expenses needed

to be booked to the Statement of Comprehensive Income. By the end of September 2015, all the wells designated for plugging for 2015 will already be closed. Moreover, APV is continuously examining the reactivation of promising wells no longer in production, a process that requires less capital investment. At the moment tests are being carried out at three reactivated wells and the data is currently being evaluated.

Alpha PetroVision Holding AG Dufourpark/Rötelistr. 16 CH -9000 St.Gallen

Telefon +41 71 388 90 00 Fax +41 71 388 90 09 www.alpha-petrovision.com info@alpha-petrovision.com

At the Caddo Pine oil field APV has pushed ahead with the drilling of the first horizontal well, and drilling began in August 2015. Here too a specifically designated team on location has been given responsibility for project development. On the basis of analyses subsequently undertaken, APV is of the opinion that oil production in Caddo Pine can also prove economical at current oil prices. The Company expects the first results in the second half of

2015.

APV's efforts to reduce administrative costs have also borne fruit. The Group structure has been simplified and as of 30 September, 2015 APV shares will be delisted from the SIX Swiss Exchange. In addition, on 7 August, 2015 APV also announced the streamlining of the executive management. The CFO, Dr. Marc Joye, retired from the executive management, but will nonetheless continue to advise the Company in financial matters. Dr. Walter Meier, CEO ad interim, will assume the function of CFO.

In the second half of the year APV will continue to consistently focus on cost management. On the operational side, APV will concentrate on the drilling of the first horizontal well in Caddo Pine and on the optimization of production in McCamey. In all cases the development of the oil price will be a determining factor for the success of Alpha PetroVision.

The complete Interim Report can be found at www.alpha-petrovision.com under Investors & Media/Reports (http://www.alpha-petrovision.com/investors-media/financial-reports/)

Jan Gregor

Gregor Communications Tel: +41 44 212 41 41 apv@gregorcom.ch

Additional information:

Alpha PetroVision Holding AG Dufourpark / Rötelistrasse 16

CH - 9000 St. Gallen Tel: +41 71 388 90 00 info@alpha-petrovision.comwww.alpha-petrovision.com

Alpha PetroVision Holding AG Dufourpark/Rötelistr. 16 CH -9000 St.Gallen

Telefon +41 71 388 90 00 Fax +41 71 388 90 09 www.alpha-petrovision.com info@alpha-petrovision.com

Interim Condensed Consolidated Financial Statements

31.12.2014

Cas h and cas h equivalents 2 647 626 1 365 471

Receivables from related parties 68 182 341 245

Receivables from third parties 5 972 432 5 321 021

Prepaid expens es e and depos its 96 239 60 733

Current assets 8 784 479 7 088 470

Financial ins trum ents at fair value through profit
and los s 1 298 448 1 500 889

Property, plant and equipm ent 919 909 1 020 826

Other non-current as s ets 253 657 268 413

Non-current assets 2 472 014 2 790 128

TOTAL ASSETS 11 256 493 9 878 598

Payables due to related parties 136 462 46 134

Payables due to third parties 793 174 618 328

Accrued expens es 894 517 1 143 471

Loan from related parties 153 600 153 600

Loan from third parties 234 000 234 000

Short-term provis ion for decom m is s ioning cos ts 894 169 980 804

Short-term liabilities 3 105 922 3 176 337

Long-term loan 3 376 010 3 259 559

Long-term provis ion for decom m is s ioning cos ts 5 567 653 6 127 902

Provis ion for pens ion plan 747 000 747 000

Long-term liabilities 9 690 663 10 134 461

Share capital 8 000 000 20 000 000
Capital res erves 27 222 457 27 222 457
Treas ury s hares - 416 319 - 416 319

Currency trans lation differences - 1 279 808 - 1 600 026

Accum ulated los s - 35 066 422 - 48 638 312

Shareholders' equity - 1 540 092 - 3 432 200

TOTAL LIABILITIES AND EQUITY 11 256 493 9 878 598

Alpha PetroVision Holding AG Dufourpark/Rötelistr. 16 CH -9000 St.Gallen

Telefon +41 71 388 90 00 Fax +41 71 388 90 09 www.alpha-petrovision.com info@alpha-petrovision.com

01.01.-
30.06.2014

Incom e from s ale of oil 1 064 251 4 489 300

Other operating incom e 5 069 321 49 818

Direct cos ts related to oil bus ines s - 939 975 - 1 976 348

Pers onnel expens es - 607 219 - 577 960

Outs ourcing expens es - 1 742 734 - 1 849 099

Adm inis trative expens es - 544 685 - 962 317

Depreciation, depletion and im pairm ent - 389 954 - 5 784 092

PROFIT/LOSS FROM OPERATIONS 1 909 005 - 6 610 698

Change in fair value on financial ins trum ents at fair
value through profit and los s 916 168 3 376 527

Interes t incom e 1 661 48 259

Interes t and accretion expens es - 730 130 - 475 558

Currency gain/los s - 486 926 - 22 195

Other finance incom e and expens es - 5 553

NET PROFIT/LOSS BEFORE INCOME TAXES 1 609 778 - 3 678 112

-

Foreign exchange differences 320 218 13 481

Changes to pens ion liabilities - -

TOTAL COMPREHENSIVE PROFIT/LOSS 1 892 108 - 3 664 631

Average num ber of s hares outs tanding during the
period undiluted 198 682 108 198 659 703

PROFIT/LOSS PER SHARE (basic) 0.01 -0.02

Average num ber of s hares outs tanding during the
period diluted 228 682 108 198 659 703

PROFIT/LOSS PER SHARE (diluted) 0.01 -0.02

Alpha PetroVision Holding AG Dufourpark/Rötelistr. 16 CH -9000 St.Gallen

Telefon +41 71 388 90 00 Fax +41 71 388 90 09 www.alpha-petrovision.com info@alpha-petrovision.com

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