CIG 0.00% 6.0¢ caspian oil & gas limited

cig: parallels to cue

  1. 79 Posts.
    Santos farmed in the CUE properties. Look what happened.

    and CUE found oil!

    I think it is a good sign that Santos joins the boat.

    many online articles will bring more buyers on monday!

    In the announcement of Santos:

    “This is another significant step for Santos as it provides a measured entry into
    an area which we believe is highly prospective for oil and gas,” Santos
    Managing Director, Mr John Ellice-Flint, said today.
    “Central Asia is generally an under-explored hydrocarbon province and this
    agreement gives Santos significant option value through becoming the
    dominant upstream operator in Kyrgyzstan,” he said.
    “Caspian has been successful in acquiring these interests over the last 3 years,
    and we look forward to working with them, both as a co-venturer, and also as
    one of their major shareholders.”

    ABC News

    Santos holds high hopes for Kyrgyzstan exploration
    Oil and gas producer Santos has announced its first foray into Central Asia.

    Santos will operate 10 exploration licences in Kyrgyzstan, which are currently held by Perth-based company Caspian Oil and Gas Limited.

    Santos, which is based in Adelaide, will acquire 15 per cent of Caspian Oil as part of the deal.

    Company spokeswoman Kathryn Mitchell says the Kyrgyzstan area is under-explored.

    " It is closely located to some fairly prospective acreage in and around that western China region, which has considerable oil production already," Ms Mitchell said.

    " So while it's under-explored, we do consider that it has pretty high prospectivity, and by that I mean that there's a good chance that we'll find oil there."

    Ms Mitchell says Kyrgyzstan will provide many opportunities for the company if a reasonable oil discovery is made.

    " While exploration is the first step in the process, should there be a discovery then we would become the operator and produce the field," she said.

    " Kyrgyzstan currently has to import oil and also gas so there's a ready-made market there in the event that we find something."

    The Age:

    In other resources news, Santos has expanded its exploration horizon to include the Kyrgyz Republic in Central Asia in a deal with ASX-listed Caspian Oil and Gas Ltd.

    Santos can earn an 80 per cent interest in 10 exploration licences in Kyrgyzstan and will take up a 15 per cent placement of shares from Caspian at an issue price of 3 ¢ a share.

    The deal was well anticipated by the market, with Caspian shares rising strongly before yesterday's announcement.

    A month ago it was trading at 2.8 ¢ a share. Yesterday it closed 1.3 ¢ higher at 7 ¢ a share, making the four-week gain 150 per cent.

    The reporter owns Santos shares.


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