ACL Announces Acquisition of Indonesia Production Assets in South Sumatra, Indonesia

Calgary, Alberta (FSCwire) - ACL International Ltd. (“ACL”) (ACL:TSX-V) issues this press release for the purposes of clarifying its press release issued on June 13, 2016. ACL is pleased to announce that its wholly owned subsidiary, Bow Energy International Holdings Inc., and Lamara Energy Pte. Ltd., a Singapore based oil and gas company, have executed a Share Sale Agreement (“SSA”) with Cooper Energy Limited (ASX:COE) to acquire its 55% interest in Tangai-Sukananti KSO (“KSO”).  Cooper Energy is a non-arms length party to ACL.  ACL and Lamara will acquire 100% of the shares of Cooper Energy Sukananti Limited (“CESL”) which operates the KSO.  Specifically, ACL will acquire 70% of the shares and Lamara will acquire the balance of 30% of the shares in CESL.

Under the terms of the SSA, ACL shall pay its proportionate share of approximately US$3.0 million inclusive of working capital adjustments and outstanding receivables.  ACL has paid a deposit of US$130,000 which is refundable under certain terms and conditions. Completion date for the transaction is scheduled for 29 July 2016. The SSA is subject to regulatory approval.

The KSO is currently producing 800 BOPD gross; however, ACL believes that the KSO has material potential to increase production with minimum capital expenditures. The KSO comprises an area of 18.25 square kilometers.

ACL’s other Indonesian oil and gas assets include (a) 50% of Langsa TAC, an offshore field with gross production of 884 bopd; and (b) 38.25% in South Block A PSC (“SBA”), an onshore block located in the North Sumatra Basin, which is one of the most productive hydrocarbon regions in Indonesia with over 80 known oil and gas fields.  ACL’s subsidiary Renco Elang Energy Pte. Ltd. (“REE”) is the operator of SBA.

As per ACL’s press release on May 18, 2016, REE received regulatory approval to drill the Amanah Timur #1 well (“AT1”) before November 30^th 2016.  REE has commenced preparations and expects to meet the timelines approved the the regulator.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ACL International Ltd.

Mohammad Fazil, President and CEO

Telephone: (403) 613-7310

Statements in this press release may contain forward-looking information including, operating costs, administrative costs, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects” and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of ACL. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and ACL does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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