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Attachment to License
series MG # 249 (oil)
dated June 28, 1995
"A p p r o v e d"
by the Prime-Minister of
Republic of Kazakstan
__________ A. S. Yesimov
September "_______", 1997
R E S O L U T I O N #R 97 - U
dated September 11, 1997,
on amendment of license conditions
LICENSE: License series MG #249 (oil) dated 6/28/95.
LICENSEE: Karakudukmunay Inc.
MINISTRY OF ENERGY AND NATURAL RESOURCES OF REPUBLIC OF
KAZAKSTAN, according to the letter of the Department of oil and gas #4 3/219
dated 9/9/97.
Inserts the following amendments to the license conditions:
I. Clause 8.2 of the License shall be amended as follows:
8.2. Minimum work program
8.2.1 Evaluation stage
1. Before 12/31/99 8 new xxxxx with the depth of 3250-3500 m. shall be drilled
and 4 exploration xxxxx worked over. As the protocol of the State Reserves
Committee does not recommend to carry out 3D seismic, it is proposed to solve
this question later, depending on geological results of drilling the first
production xxxxx.
8.2.2 Development stage during the first three years: The development stage for
the period till 12/31/99 shall include the work on developing the field
infrastructure and installing equipment necessary for processing and transfer of
crude oil produced from the 4 worked-over and 8 drilled xxxxx.
The total of financial commitments stipulated in Clauses 8.2.1 and 8.2.2 shall
be:
Before 12/31/1997 - $10,000,000
Before 12/31/1998 - $34,500,000
Before 12/31/1999 - $12,000,000
Minister D. T. Xxxxxxxx
(signed and stamped)
The amendments to the license conditions are accepted:
Licensee - Karakudukmunay Inc.
General Director - N. D. Klinchev
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