About Us
We have interests in eight licences in the historic and oil rich Fergana Basin in the Kyrgyz Republic, which is one of the world's major oil provinces which stretches from the Caspian Sea to the Tarim Basin in China.
There are two separate facets to our Kyrgyz operations. We operate a 650hp drilling rig to explore and appraise prospects in our own right and in joint venture with other companies, plus we are pursuing a new joint venture partner for further exploration and development of six of our Kyrgyz blocks.
Australian oil and gas major Santos has assessed seismic shot over our leases which revealed extremely attractive targets. We are now preparing a package to use in seeking JV participants and we expect considerable interest in the licences.
We have a 100 per cent interest in the Kyrgyz blocks.
We already produce oil from shallow depths on some of these leases, though currently in limited quantities. Our regional headquarters are in Bishkek, the capital of the Kyrgyz Republic, and operational offices in Mailisu.
We have a 70 per cent interest in a company owning the Mailisu III oilfield under a joint venture agreement with the Kyrgyz Government-controlled oil company KNG. Mailisu III is an existing oilfield and has produced about 700,000 barrels of oil. Existing production wells are excluded from the joint venture licence. We have discovered oil and confirmed the presence of gas from wells drilled in 2007, 2008 and 2009.
We have a drilling rig capable of drilling to around 2,500m which is used to drill Caspian controlled prospects and on a contract basis for other companies.