PVC: Report on use of proceeds

Drilling Mud Corporation reports the use of proceeds in the issue certified by the State Securities Commission as follows:
1.    Net proceeds: VND154,586,060,000
2.    Use of proceeds as of 30/06/2010
•    Investment in joint venture
-    Contribution of proceeds in CNG Vietnam JSC
-    Addition of charter capital for subsidiaries:
+ Drilling Mud Joint Stock Company – Southern
+ Drilling Mud Joint Stock Company – Northern
+ Drilling Mud Joint Stock Company – Central
+ Drilling Fluid and Wells Services One Member Limited Company.
•    Industrial projects
-    Factory of modified starch in Dung Quat economic area (Period 1)
-    Factory of Drilling Mud in Cai Mep economic area
•    Purchase of equipments for new head offices in Vietnam Petroleum Institue – 173 Trung Kinh, Hanoi.
•    Addition of immobile capital

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