BMB Munai Approved for Listing on AMEX
BMB Munai, Inc. (OTC Bulletin Board: BMBM) reports that the American Stock Exchange has approved the application of BMB Munai, Inc. for the listing of the Company's common stock on the American Stock Exchange under the trading symbol "KAZ." The Company has selected J. Streicher & Co. LLC as its specialist. Trading of the Company's common stock on the American Stock Exchange is expected to commence on Thursday, September 21, 2006. This listing approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
Boris Cherdabayev, Chief Executive Officer of BMB Munai, said, "We are pleased to announce our listing on the American Stock Exchange. We believe this listing will be a significant step toward improving our Company visibility within the U.S. investment community. It also marks the fulfillment of a promise to investors that we are committed not only to the exploration and development of our oil resources in Kazakhstan, but also to increasing value and liquidity for our shareholders who have provided our Company with great support during the past few years."
BMB Munai is an independent oil and gas company engaged in the exploration and production of crude oil and natural gas in western Kazakhstan. The Company maintains administrative offices in Salt Lake City, Utah and Almaty, Kazakhstan.