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Caspian Oil & Gas completes sale of Kyrgyz oil interests


Published Sep 27, 2012
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Caspian Energy

Caspian Oil & Gas Limited has completed the sale of the two subsidiary companies which held its Kyrgyz oil licences for US$800,000 cash.

CJSC Textonic and Caspian's seventy percent interest in South Derrick LLC were sold to an unrelated entity with other oil and gas interests in the Kyrgyz Republic.

These subsidiaries held oil production licences generating gross revenue of approximately $20,000 per month (but declining with reduced flow rates over time), the West Mailisu prospect and a number of exploration licences scheduled to expire at the end of 2012.

Tags: Caspian Oil & Gas Limited




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