Pacific Energy Development has entered into a series of agreements pursuant to which the Company has restructured its planned acquisition of indirect interests in production and exploration licenses covering a contract area in the Republic of Kazakhstan covering 380,000 acres within the North Block of the Pre-Caspian Basin.

As a result of the restructuring, the Company will acquire 5% of the capital stock of Caspian Energy Inc., which will, as a result of this transaction own 100% of Aral Petroleum Capital Limited which currently holds a 100% operated working interest in the asset.

Tags: Pacific Energy Development