Lots to do and see... Please send Links and ideas!!! Perhaps Knowledge will reduce the "Dumb" Chatter....
Managements Discussion of Kazakstan Joint Venture
(Excerpted from the companys 10-K filed April 15th, 1998 from Business Section)
Kazakstan Agreement
On May 12, 1997, the Company, through its wholly-owned subsidiary, American International Petroleum Kazakstan ("AIPK"), entered into an agreement with MED Shipping and Trading S.A. ("MED"), a Liberian corporation with offices in Frankfurt, Germany, to buy from MED, in exchange for a combination of cash and stock, 70% of the stock of MED Shipping Usturt Petroleum Ltd. ("MSUP"), a Kazakstan corporation which owns 100% of the working interest in a Kazakstan Concession (the "License Area"). The Concession is located approximately 125 kilometers from Chevron's multi-billion-barrel Tengiz Oil field near the Caspian Sea, and is bordered to the west by both Oryx/Exxon and Amoco licenses and to the south by an ELF Acquitane license. Independent, preliminary, evaluation indicates potential recoverable reserves from 8 structures in the Concession area from Jurassic Age sandstones. Eight additional structures have been identified but have not been evaluated.
The Company paid $100,000 in cash and 300,000 shares of its Common Stock to MED in return for the option to acquire a 40% working interest in the License Area.Further negotiations resulted in an increase in the working interest to 70%. As consideration for its 70% interest in MSUP, the Company issued an additional 2,950,000 shares of its Common Stock, and warrants to purchase an aggregate of 500,000 shares of its Common Stock at an exercise price of $2.00 per share.
The definitive agreement under which MSUP is to explore and evaluate hydrocarbon reserves in the License Area provides for the payment of a commercial bonus of 0.5% of reserve value, a subscription bonus of $975,000, and grants MSUP the exclusive right to a production license upon commercial discovery. The term of the license is five years and may be extended for an additional 4 years. The five-year minimum work program required by the license calls for MSUP to acquire and process 3,000 kilometers of new seismic data, reprocess 500 kilometers of existing seismic data, and drill 6,000 linear meters. Initial production up to650,000 barrels is exempt from royalty, which other wise ranges between 6% and 26%, to be negotiated in conjunction with a production agreement with the government. Income tax has been set at 30% and social programs payments at $200,000 annually during exploration. MSUP will be required to expend a minimum of $14.75 million over five years, of which $6.3 million is required in the initial three years. In addition, MSUP assumed an obligation to pay the Kazakstan government three annual payments of $200,000 each, beginning in July1998, for the purchase of existing seismic and geological data on the License Area. AIPK recently contracted with two geophysical companies to acquire 2D seismic data on the License Area. One geophysical company is to concentrate on the Chikuduk, a 60 kilometer-long structure previously identified in the eastern section of the License Area, and the other will focus on areas west of theChikuduk. The seismic is intended to assist in a determination of the feasibility of further exploration and potential siting of future exploratory drilling.
(Excerpted from the companys 10-K filed April 15th, 1998 from Transfer of Funds - U.S. and Foreign Section)
Kazakstan
On May 12, 1997, the Company, through its wholly-owned subsidiary, American International Petroleum Kazakstan ("AIPK"), entered into an agreement with Med Shipping and Trading S.A. ("MED"), a Liberian corporation to buy from MED, in exchange for a combination of cash and stock, a 70% working interest in a Kazakstan concession. As part of the acquisition, the Company is required to perform certain minimum work programs over the next five years which consists of the acquisition and processing of 3,000 kilometers of new seismic data, reprocessing 500 kilometers of existing seismic data, and drill 6,000 linear meters. In addition, the Company assumed an obligation to pay the Kazakstan Government three annual payments of $200,000 each beginning July 1998 for the purchase of existing seismic and geological data on the Kazakstan concession.
The Company has also entered into a consulting agreement with certain MSUP joint venture partners. The consulting agreement requires monthly payments of $12,500 through July 31, 1998 and $23,000 monthly through April 22, 2000.
Official AIPC Kazakhstan information page
Kazakhstan (WORLD ATLAS)also shows Samara & Saratov in Russia
Original Press Release about AIPC and MED agreement
1.1 Billion Barrel Press Release
AIPC announces work begining in December 1997
AIPN gets License from KAZ government
Government of Kaz gives assets to CPC
Kazakstan License Area (AIPC WEBSITE)
CNN -Weather- Karaganda, Kazakhstan
Almaty Herald (English Kazakhstan Paper)
Washington Post Article - 04/26/98
UK investors guide for Kazakhstan
The economic situation in Kazakhstan
Suat M Mynbaev, Minister of Finance
Wavetech post on StockTalk (part 1)
Wavetech post on StockTalk (part 2)
U.S. Commerce Departments Business Information Service - Kazakhstan
Focus Central Asia - Analytical Reports
MOBIL OIL's Add in Washington Post - Kazakhstan
MOBIL OIL's Factbook - Kazakhstan
Mobil Oil talks about 4 deals in Kazakhstan
Mobil declares Kazakhstan as good business climate for Oil investment
China NPC Agrees to build 2 pipelines in Kazakhstan
Kaz Pipeline under Caspian Sea
RFE/RL NETS Central Asia Report - Kazakhstan
Transcript of DOD and KAZ agreement signing- 1996
Chevron Press Release - Kaz Pipeline
Chevron's Long-Shot Bet On Kazak Oil Pays Off
Kazakhstan Supplement in Washington Post - Lot's of interesting stuff
Kazakhstan Chamber of Commerce- Looks hooky..
The Kazakhstan Institute of Management, Economics and Strategic Research
Chevron - My guess for our KAZ Partner
China National Petroleum Corporation(CNPC)
Bank Caspiyskiy
Read the letter to Investors and LUKoil connection
Bankers Trust Connection
Broadcasting in Kaz(Brief History)
Oil Online Search Engine
The following stories where found in the archives of Oil online.. direct links don't work as oil on line changed directories so I ve deactivated them... Left the story titles though so you could see what I found and cut and paste headlines into search engine....
REVISION: It appears IBM's Oil on line archives are having some sort of problem right now...Keep checking back cause it's worth it...
Amoco Joins CPC
Chinese, KAZ oil deal
Baku Pipeline ahead of schedule
South Caspian Sea JV
Tengizchevroil Expands Production
LUKoil Caspian Sea exploration
Japan National Oil Co. explores Aral Sea in KAZ
Texaco Kaz Deal
AIPN retains Wavetech
Chevron Completes CPC deal
Chevron/ Lukarco Kaz Deal
KAZAKHSTAN DEAL TARGETS NORTH CASPIAN OIL
AMOCO CALLS FOR INCREASED U.S. INVOLVEMENT IN CASPIAN REGION
TURKEY TO DEVELOP RESERVES IN KAZAKHSTAN
Interactive Central Asia - Kazakhstan
This is bad - wonder what GF ate while he was in Kazakhstan - Run Triger Run !!
Kazakhstan Defence Forces - Post Soviet Break up
NUCLEAR SECURITY IN KAZAKHSTAN
American Express Travel Information on Kazakhstan
Amnesty Intrnational - Kazakhstan
Alpha K Security - Kazakstan Security company, specializing in Corporate issues
-CHECK BACK OFTEN-
