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Prolongation of the exploration period of Profit Contract |
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Own release
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07.12.2010 |
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The Management Board of PETROLINVEST S.A. with its registered seat in Gdynia (the “Company”) announces that today it has received the decision of the Ministry of Oil and Gas of the Republic of Kazakhstan (formerly the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan) regarding the extension of the exploration period under the Profit Contract by two years.
Those provisions will be implemented in the form of an annexe to the Profit Contract no. 1810 dated 18 August 2005, registered to TOO Company Profit, on or before 17 February 2011. The current exploration period for the Profit Contract, as provided in the annexe dated 5 March 2008, expired on 18 August 2010.
PETROLINVEST S.A. has 50% of the shares in TOO Company Profit, registered in the Republic of Kazakhstan. Download current report no. 95/2010
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