Half Yearly Report

Mentum Inc.

("Mentum" or "the Group")

Interim Results for the Six Months ended 30 June 2013

Mentum (AIM: MEN) the AIM listed investment company announces its interim results for the six months ended 30 June 2013.

Highlights

· New major shareholders, Jim Stewart and Mike Douglas and companies connected to Stanhill Capital Partners, each acquired a 13 per cent interest in the Company in June.

· US$ 453,500 (£300,000) raised to fund the Company's investing policy.

· US$ 1,540,000 (£1,000,000) Loan Facility obtained.

· New strategic focus on capturing the significant opportunities that exist in the oil and gas and natural resources sectors

· Company is actively reviewing a number of significant possible investment opportunities in the Middle East and Africa

Results

Operating loss for the period was US$ 147,000 (6 months to 30 June 2012: US$ 483,000, year ended 31 December 2012 US$ 726,000). Administrative expenses of US$147,000 compare to US$215,000 to 30 June 2012. This was as a result of cost reduction measures put in place.

The net loss for the period was US$ 195,000 (6 months to 30 June 2012: US$ 483,000).

No dividend is proposed.

As at 30 June 2013 the Group had no debt and a cash balance of US$42,000 plus tradable investments at US$ 481,000compared to a cash balance of US$ 391,000 at the year end and US$ 723,000 at 30 June 2012.

Chairman's Statement

The Company has undergone significant transformation during the period under review, successfully raising £300,000 in June to fund its new investing policy and subsequently completing four investments in listed oil and gas and natural resources companies, which allowed it to return from suspension on AIM.

Following its return from suspension in June 2013, the Company has undergone further significant change with the previous board of directors stepping down and a new board being appointed. I was appointed as Non-Executive Chairman and Shahed Mahmood and Charles Goodfellow joined the board as Non-Executive Directors.

The new board is delighted to be involved in what we believe to be a very exciting time for the Company as we look to capture some of the significant opportunities that exist in the oil and gas and natural resource sectors. We are continuing to evaluate potential opportunities including oil and gas opportunities in the Middle East and Natural Resources projects and related services in Africa.

We are extremely excited to have the support and leverage of our shareholders, including Jim Stewart, Mike Douglas and Stanhill Capital. We look forward to updating the market on our progress in due course.

Peter Moss

Non-Executive Chairman

 20 September 2013

Mentum Inc.

("Mentum" or "the Group")

Interim Results for the Six Months ended 30 June 2013

MENTUM INC.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

MENTUM INC.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

MENTUM INC.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

MENTUM INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

MENTUM INC.

1 general information

The information for the period ended 30 June 2013 does not constitute statutory accounts as defined in the Companies Act 2006. The figures for the year ended 31 December 2012 have been extracted from the 2012 statutory financial statements. The auditors' report on those accounts was unqualified and did not contain a statement under section 498 of the Companies Act 2006.

GOING CONCERN

On 17 June 2013, at an extraordinary general meeting of shareholders, ordinary resolutions were passed which authorised the company to adopt a revised investing policy as described below, and to issue £300,000 ($453,300) of non-interest bearing Convertible Loan Notes. The shareholders also agreed to the disapplication of the pre-emption rights pursuant to the conversion of the Convertible Loan notes. The revised investing policy is to acquire a portfolio of securities and/or assets in the natural resource sector, with a focus principally, but not exclusively, on the oil and gas sector. This will involve making a number of minority passive investments in UK quoted companies operating in these sectors. Thereafter, additional investments to be made by the company may either be quoted or unquoted companies, partnerships or joint venture arrangements. There is no limit on the number or size of companies into which the Company may invest.

The funds generated from the issue of convertible loan notes, together with existing cash funds, was used to implement the revised investing policy and acquire investments totalling $510,000 on 19 June 2013. On implementation of the revised investing policy the Ordinary shares of the company were reinstated on the AIM market on 21 June 2013. The reinstatement to AIM triggered the loan notes to convert to Ordinary shares at a conversion rate of £0.0013 per Ordinary share and 230,769,231 new Ordinary shares of the company have been issued to the holders of the Convertible Loan Notes.

The directors have prepared cash flow projections through to 30 June 2014. These projections are dependent on the sale of a proportion of the investment portfolio in January 2014, generating cash reserves of $0.1 million to sustain the working capital requirements of the company. The directors are confident that the investments acquired in June 2013 will have sufficient value and an appropriate buyer in January 2014 to ensure these funds are realised.

2 accounting policies

Basis of preparation

The Company was incorporated as a Corporation in the Cayman Islands which does not prescribe the adoption of any particular accounting framework. The Board has resolved that the Group will follow International Financial Reporting Standards (IFRS) and apply the Companies Act 2006 when preparing its annual financial statements.

The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these condensed consolidated interim financial statements.

The principal accounting policies of the Group remain unchanged from those set out in the Group's 2012 financial statements.

Critical judgments and key sources of estimation uncertainty

The key sources of estimation uncertainty the Directors have made in preparing this interim report are as follows:

§ the fair value of the available for sale financial assets; and

The Directors consider that the critical judgments in applying the accounting policies, as detailed above, in preparing this interim report are as follows:

§ the categorisation of certain financial assets as available for sale.

3 segmental reporting

IFRS 8 requires an entity to report financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Generally, financial information is required to be reported on the same basis as is used internally for evaluating operating segment performance and deciding how to allocate resources to operating segments.

The Group reports financial information in its financial statements on the basis of the Group as a whole and does not report by operating or geographic segment.

4 LOSS per share

The calculation of the basic (loss)/earnings per share is based on the net loss for the period of US$ 147,000 (period ended 30 June 2012: loss US$ 483,000 and year ended 31 December 2012: loss US$ 726,000) divided by the weighted average number of shares in issue during the period of 353,093,018 (period ended 30 June 2012: 349,268,114 and year ended 31 December 2012: 349,268,114). The share options and warrants are anti-dilutive for all periods, therefore no diluted loss per share figure is presented.

5 share capital

The share capital of the Group is denominated in GBP. Following a change in reporting currency in 2009, the share capital was translated into US$ at the historic rate.

6 Events after the reporting date

There were no material events after the reporting date, which necessitate revision or adjustment of the figures in these interim results.

On 16 September 2013 the Company announced that it had entered into an agreement with certain of its shareholders (Jim Stewart, Mike Douglas and Stanhill Capital Partners and associates, together "the Lenders") to provide a secured loan agreement in the amount of £1,000,000 (the "Loan Facility"). The purpose of the Loan Facility is to provide the Company with additional working capital as it accelerates its evaluation of certain new investment opportunities.

The principal terms of the loan are:

· Up to £1,000,000 will be provided to the Company;

· Term of 1 year extendable to 2 years, at the Company's sole discretion, if required;

· On all funds drawn-down, coupon of 7.5% per annum payable through the issuance of new shares in the Company to the Lenders at a price of 0.75p per new share; and

In consideration for the provision of this facility, grant of warrants over 21,000,000 ordinary shares of the Company to the Lenders, exercisable until 16 September 2018 at 0.45p per new share.

The Loan Facility is provided in equal part by Jim Stewart, Mike Douglas and Stanhill Capital Partners and associates, each holders of 13.26% of the issued share capital of the Company;