American international petroleum awarded extension for license 953 in Kazakhstan
Published:
2 November 2002 y., Saturday
American International Petroleum Corporation announced its wholly-owned subsidiary, American International Petroleum Kazakhstan (AIPK), has received a two year extension for its License 953 from the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan.
AIPK owns two licenses in Kazakhstan; exploration License 953, in which it has a 70% working interest, and production License 1551, the Shagyrly-Shomyshty gas field, in which it has 100% interest. Based upon data developed on License 953, further exploration efforts should be focused on the eastern portion of the block. Therefore, under this new contractual arrangement with the Kazakhstan government, AIPK will retain the eastern section of the block to concentrate on deep gas exploration activities, relinquishing certain western acreage.
The Company is currently having discussions with industry participants that could result in utilization of its Lake Charles refinery and is concurrently in negotiations to raise additional working capital. However, there are no assurances that all, or any, of these initiatives can be consummated. American International Petroleum Corporation is a diversified petroleum company which, through various wholly owned subsidiaries, is involved in oil and gas exploration and development in Kazakhstan, and in refining, marketing and transportation of petroleum products in the United States.
Statements herein may be identified as forward-looking for purposes of safe harbor provisions under Section 21E of the Securities and Exchange Commission Act of 1934.
Šaltinis:
herald.kz
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The Kakheti Regional Roads Improvement Project for Georgia aims to reduce transport costs and improve access and traffic safety for the Kakheti regional roads.
more »
“Don Quixote – Made in Romania” brought the curtain down on the Cultural Days of the European Central Bank (ECB) 2009, with an expressive combination of tap dance, folklore, pantomime and martial arts.
more »
The Latvian Finance and Capital Market Commission permitted Mr. Vladimir Antonov, who is also the main shareholder of AB Bank SNORAS, to acquire and manage up to 33 per cent of the shareholding of the Latvian bank AS “Latvijas Krajbanka”.
more »
On October 30, the French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius. The company invested EUR 3.5 million into the new factory which is located near the old manufacturing facility to be closed soon.
more »
During the extraordinary general shareholders' meeting of AB Bank SNORAS, which took place on 5th November 2009, it was decided by additional contributions to increase the authorized capital of the bank by more than LTL 88 million.
more »
The French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius.
more »
“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE).
more »
The Bank of Lithuania permitted AB Bank SNORAS to include in the second level capital LTL 72.5 million (EUR 21 million) worth emission of termless debt securities distributed via non-public distribution on 31st August this year.
more »
The remit of the Parliamentary Committee set up to examine the financial crisis was debated at its first meeting on Wednesday (4 November).
more »
Europeans can now use direct debit from their home account to pay bills anywhere in the EU.
more »