Terraoil Announces Completion of Audits; Statutory Audits for Fiscal Years 2020 and 2021 Completed

STEINHAUSEN, SWITZERLAND – EQS Newswire – 16 September 2022 – Terraoil Swiss AG (“Company”), an energy company with a strong focus on the Mediterranean is pleased to announce that the statutory audits for the fiscal years 2020 and 2021 have been completed for the Company and its Albanian subsidiary.

Each of the four audits were completed with clean audit opinions. The Company will now proceed with the necessary steps to prepare its Annual General Meetings for both years.

Chief Financial Officer, Bill Cummins commented:

“The completion of these audits is an important milestone for the Company. Delays in their completion were a direct result of investigations and difficulty raising capital that were caused by the false accusations made by the Swiss public broadcaster Schweizer Radio und Fernsehen (“SRF”) in its television programs and on the internet. Management continues to work tirelessly to secure the Company’s future and to position it to achieve value and liquidity for its shareholders.

We would like to thank our entire team and our new auditors for their professionalism and efficiency in completing the audits.”

If you are an
Terraoil shareholder and would like
additional information, contact
Peter Krempin either via email [email protected] or by telephone at +41 71 544 01 20.

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The issuer is solely responsible for the content of this announcement.