Big Sky Energy Purchases 50% Interest in the Alakol Block, Kazakhstan

Alakol Block, Kazakhstan
(Click to Enlarge)
Big Sky Energy's subsidiary Big Sky Energy Alakol Ltd., has purchased a 50% operating interest in the Alakol Block, which is located on the Kazakh-China border in eastern Kazakhstan.

The Company purchased the sub-soil rights from Remas Corporation LLP, a Kazakh registered company, for historical costs and initially the assumption of the first three years of contractual work commitments. This Agreement is subject to the Kazakh Ministry of Energy, Mines, and Resources approval.

The Alakol Block is approximately 32,000 in area, and is located on the Kazakh-China border, near the city of Drujba, through which, the soon to be commissioned Kazakh-China oil pipeline passes. The Block offsets Karamai, China's third largest oil field, located in the Jungar Basin, which is believed to extend into the Alakol Block.

"Very little exploration has occurred on this Block given the activity in western Kazakhstan, and as a result, we believe the potential offered by such a large acreage position is significant," stated Mr. Al Sehsuvaroglu, the Company's President and CEO. "We will shoot seismic first half of 2006 in order to assess this potential."

Big Sky Energy Corporation is a US junior oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Kazakhstan's pre-Caspian and Jungar Basins.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Director of Business Development - Houston, TX
Expertise: Business Development|Sales
Location: Houston
Legal Counsel Upstream - Deep Water (Houston, TX or New Orleans, LA)
Expertise: Legal
Location: Houston, TX
Regional Sales Engineer
Expertise: Business Development|Sales
Location: Kansas City, MO
search for more jobs

Brent Crude Oil : $51.49/BBL 1.02%
Light Crude Oil : $49.04/BBL 0.59%
Natural Gas : $2.97/MMBtu 1.71%
Updated in last 24 hours