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International Energy, Ltd. Has Signed LOI to Acquire 50% Interest in Oil Fields Located in Central Asia 12/5/2006 9:00:32 AM ORLANDO, FL, Dec 05, 2006 (MARKET WIRE via COMTEX) -- International Energy, Ltd. (PINKSHEETS: ILGY) has signed Letters of Intent to acquire 50% interest in oil fields located in the Atyrauskeye and Mangystauskeye regions of Kazakhstan with proven oil reserves of 140 Million barrels.
The joint venture partner in this project will be the Kazakhstan government. The purchase price of US$12 million will be applied to upgrading equipment to increase daily production at these fields.
CEO David Watson stated: "Kazakhstan provides a great opportunity for the realization of our company's strategic objectives due to the enormous oil and gas reserves in this region."
About International Energy, Ltd.
International Energy, Ltd. intends to become a worldwide company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. Oil and gas-related activities will include acquiring additional properties with potential for development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasis is on production, cash flow and reserve value, which will be attained by exploring for, developing, and purchasing oil and gas properties worldwide.
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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Heres whats happening in the Kazakhstan region as of yesterday!
EU and Kazakhstan pledge to increase energy cooperation The Associated PressPublished: December 4, 2006
BRUSSELS: The European Union agreed Monday to improve ties with energy-rich Kazakhstan in a move seen as a bid to reduce its dependence on gas supplies from Russia and the Middle East.
The two sides signed a memorandum of understanding that would make it easier to import gas and oil from the vast Central Asian republic. The 25-nation EU also signed a deal to promote the peaceful use of nuclear energy with a country that holds one-fifth of the world's known reserves of uranium.
"Kazakhstan and the European Union have laid the foundations of constructive cooperation in the energy sector," José Manuel Barroso, president of the EU Commission, said after meeting with President Nursultan Nazarbayev of Kazakhstan.
Kazakhstan, which was part of the Soviet Union, is expected to pump 3.5 million barrels of oil a day in the coming decade. It also has immense gas reserves. At the moment, the EU is counting on Russia as a vital supplier of energy. Kazakhstan says it wants to help the union diversify its imports and make it less dependent on Moscow.
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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made exactly the run up i had predicted in the other thread!! radar again for tomorrow, lookin to hit 2 cents and no doubt pass and close past .01
-------------------- who says you cant trade stocks at 17!!? Posts: 288 | From: Wisconsin | Registered: Apr 2006
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I think this will rock tomorrow and settle down above 0.01 this week. Next week, this will rocket to touch 0.05
Posts: 86 | Registered: Nov 2005
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