KS Energy establishes six wholly-owned subsidiaries

KS Energy has established six wholly-owned subsidiaries:

Offshore staff

SINGAPORE -- KS Energy has established six wholly-owned subsidiaries:

Atlantic Marine Service Egypt
AMS Egypt is incorporated in Egypt with an issued share capital of $500,000 and paid up capital of $125,000. The company's principal activity is to provide services for the oil and gas industry.

KS Capital Equipment Ltd.
KS Capital Equipment is incorporated in Hong Kong. The company's principal activities are to own and charter rigs and provide services to the oil and gas industry.

KS Discoverer 3 Ltd.
KS Discoverer 3 is incorporated in Hong Kong. The company's principal activities are to own and charter land rig and provision of services for oil and gas industry.

KS Discoverer 4 Ltd.
KS Discoverer 4 is incorporated in Hong Kong. The company's principal activity activities are to own and charter land rig and provision of services for oil and gas industry.

KS Technical Resources Ltd.
KS Technical Resources is incorporated in Hong Kong. The company's principal activities are to provide technical services to the oil and gas industry and as an investment holding company.

QIM Ventures Ltd.
QIM is incorporated in Cyprus. The company's principal activity is to own and charter offshore rigs.

09/18/2008

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