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03.01.2011 |
The Management Board of PETROLINVEST S.A. (henceforth the "Company") announces that on 3 January 2011 it was informed that the Company’s majority shareholder, Prokom Investments S.A. with its registered office in Gdynia ("Prokom”), signed an annex dated 31 December 2010 to the agreement between the Company and Prokom dated 20 March 2009 setting forth terms and conditions for cooperation in seeking financing for the Company, which was announced by the Company in current report no. 33/2009 dated 20 March 2009 (the “Annex”).
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16.12.2010 |
The Management Board of PETROLINVEST S.A. (the “Company”, “Petrolinvest”) announces that today the Company has concluded an investment agreement (the “Agreement”) with Mr Wiesław Skrobowski on investing funds in Silurian Sp. z o.o. (“Silurian”). The subject matter of the Agreement is the establishment, as part of business conducted by Silurian, of cooperation regarding development, ensuring organisational and legal security as well as provision of services to companies which are active in Poland in the field of shale gas exploration. Silurian intends to offer comprehensive services to entities holding concessions for exploration of shale gas. The services will include general contracting, project management and performance of drilling works during both exploration and production of shale gas and will be provided using Silurian’s own drilling installations. Silurian will operate based on reliable, American drilling technologies and methodologies related to drilling during exploration and production of shale gas.
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10.12.2010 |
The Management Board of PETROLINVEST S.A. (the “Company”) announces that:
1. On 9 December 2010 the Company received from an entity indicated by Prokom Investments S.A. (“Prokom”) as the financing entity (“Financing Entity”), within the meaning of the agreement on financing concluded by the Company and Prokom on 20 March 2009, which makes a direct equity investment into PETROLINVEST S.A. shares, which the Company announced in the current report No. 33/2009: |
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08.12.2010 |
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On 7 December 2010 Petrolinvest S.A. received a decision on the prolongation of the Profit exploration contract in Kazakhstan by two years. |
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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. |
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06.12.2010 |
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The Management Board of Petrolinvest S.A. announces that, having conducted additional analyses of the geological potential of the Shyrak structure located in the OTG contract area in Kazakhstan and of the results of the commenced works on the well, Petrolinvest has decided to resume the drilling of the Shyrak 1 well. Prospective resources of the Shyrak structure were estimated by an independent expert company, McDaniel & Associates, at 311 million BOE. |
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18.11.2010 |
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The Management Board of PETROLINVEST S.A. (the “Company”) announces that on 18 November 2010 the Company and the Morgan Stanley Capital Group, Inc. (“Morgan Stanley”) concluded an agreement concerning the final settlement between the parties in connection with the termination by Morgan Stanley of the LPG supply agreement of 4 November 2009 concluded between the Company and Morgan Stanley (the Company announced the conclusion of this agreement in current report No 99/2009 of 5 November 2009) (the “Agreement”). The subject matter of the Agreement was the purchase of 140,000 tons of LPG in total by the Company in the years 2010–2011. The estimated value of the contracted deliveries was to be in excess of USD 90,000,000. The Agreement was terminated on 13 October 2010. The reason provided by Morgan Stanley for terminating the Agreement was the failure of the Company to establish, pursuant to the terms of the Agreement, collateral on behalf of Morgan Stanley for the Company’s payment for LPG deliveries under the Agreement in the form of documentary credit. |
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