2nd Jul 2008 10:28
The following replaces the Doc re. Results of the Board of Directors Meeting announcement released at 08:00 under RNS number 0882Y
The text has been amended and the full amended version appears below
PRESS - RELEASE
Meeting of the Board of Directors of
JSC KazMunaiGas Exploration Production
London, 2 July 2008. The meeting of JSC KazMunaiGas Exploration Production ("The Company" or "KMG EP") Board of Directors took place on 1 July, 2008.
At the meeting, the Board of Directors approved the changes to the exploration works schedule for 2008. The Board decided that the Company will carry out 3D seismic tests on the area of 360 sq km in order to study sub-salt structures Buyurgin on the block R-9. It is intended to start the drilling of the first sub-salt exploratory well on this block in the 1Q of 2009.
The Board has also discussed other commercial, administrative and organisational issues.
Further information about the agenda of the Board of Directors' meeting will be posted on the Company's website www.kmgep.kz
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Notes to Editors
KMG EP is the second largest Kazakh oil producer with over 10.6 mmt (215 kbopd) of crude oil production in 2007 including shares in production of Kazgermunai and CCEL, and 240 mmt (1.8bn bbl) of proved and probable reserves at the end of 2007 (over 2 bn bbl including interests in Kazgermunai and CCEL). The Company's shares are listed on the Kazakh Stock Exchange and the GDRs are listed on the London Stock Exchange. The Company raised over US$2bn as a result of its IPO in September of 2006.
For additional information please contact:
KMG EP Public Relations (+7 7172 977924, +7 7172 977927)
Ms Zukhra Sultanova
Email: [email protected]
KMG EP Investor Relations (+7 7172 975433)
Mr Alexander Gladyshev
Email: [email protected]
Pelham PR (+44 203 178 44 18)
Mrs Elena Dobson
Email: [email protected]
Future related announcements/ statement
This document contains announcement that are, or may be deemed to be "future related announcements". These announcements can be identified by the use of future related terminology, including, but not limited to, the terms "believes", "anticipates", "estimates", "intends", "plans", "sets", "will" or"should" or, in each case, by their matching or comparable terms, or by references to the discussions, plans, objectives, goals, prospective events or intentions. These specified announcements include all the matters that are not historical facts. These include and are not limited to, the announcements related to the Company's intentions, beliefs, and statements of current expectations concerning, amongst other things, the Company's expectations on operation results, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and the industries in which the Company operates. Naturally, the future related announcements bear a risk and uncertainty, since they are related to future events and circumstances, which may or may not occur. These announcements are not guarantees of the Company's future performance and the actual results of its operations, its liquidity and financial condition; and the development of the country and the industries in which the Company operates may differ from those described in, or suggested by, the future related announcements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any future related announcement or industry information set out in this document, whether as a result of new information, future developments or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such future related announcements will be achieved.
Related Shares:
Kazmunaigaz Exploration