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
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