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CASPIAN OIL & GAS LIMITED - ASX: CIG
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Description
Caspian Oil & Gas Limited (ASX:CIG) is an oil producer and explorer listed on the Australian Stock Exchange with our registered offices in Perth, Western Australia.
We are exploring and developing prospective oil lease holdings around the Fergana Basin in the Kyrgyz Republic and investigating other opportunities in Central Asia and Romania.
Kyrgyz Republic
We hold a large acreage position around the Fergana Basin in the Kyrgyz Republic through our equity in JSC Textonic ("Textonic"). There are numerous oilfields in the Fergana Basin, the earliest of which began producing oil in the early 1900s. A re-interpretation of Soviet era seismic has led to the identification of a number of previously untested targets on our licence areas, and on-ground exploration has confirmed the presence of oil, reservoir rocks and structures in areas previously untested by seismic. After identifying attractive targets from approximately 400km of 2D seismic across six of our licenses. We are active in promoting the oil and gas potential to new farminees.
Romania
After entering the European Union (EU) in 2007 the Romanian Government released production and exploration licences for bid throughout 2007 and 2008. In Q2 2009 the largest petroleum licence relinquishment in Romania’s history took place (approximately 40,000sqkm relinquished by Petrom & Romgaz). These blocks will become available through future bidding rounds. Bids for the first tranche (30 blocks in Pannonian, Danube Delta & Black Sea) were submitted in May 2010 with the winning bids notified in early July 2010.
Kazakhstan
During the past six months we have been evaluating various opportunities in Kazakhstan which will allow our regional expertise and operating capacity in Central Asia to be fully utilized. During 2010 we plan bid on several opportunities following technical and commercial evaluation.
Mine For
oil, gas, gold, diamonds
Location of operation(s)
Kyrgyz Republic, Kazakhstan, Romania, Western Australia
Address
Ground Floor , 30 Ledgar Road
BALCATTA, WA, AUSTRALIA
Phone
(08) 9240 2405
Website
Last Updated
22/06/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.