Caspian Oil & Gas (CIG)

Shares / Stock Code

CIG

Stock Exchange / Sharemarket

Australian Securities Exchange

Caspian Oil & Gas Limited (CIG) is a petroleum explorer, primarily looking for oil. Key exploration projects are in the Charvak, Ashvaz and Ak-Bura prospects of the Fergana basin in the Kyrgyz Republic. The company was listed on the ASX in December 1995. CIG is also listed on the Frankfurt and Berlin Stock Exchanges. In May 2009, the Company started contract drilling in the Kyrgyz Republic in Central Asia. As of June 30, 2009, the Company held interests in eight oil licenses grouped on the rim of the Fergana Basin in the Kyrgyz Republic, Central Asia. The Company operates in three business segments: investing, mineral exploration and oil exploration. The investing segment includes investing in equities, cash management and corporate management.

The mineral exploration segment includes mineral exploration for gold and diamonds in Central and West Africa. The oil exploration segment includes oil exploration and provision of contract drilling services in Central Asia. CIG's main focus is its 16, 500sqkm of oil licences in the Kyrgyz Republic. The company also holds a 39% interest in ASX-listed gold explorer Perseus Mining Ltd. Most oil is sold into global spot markets. Oil is sold to the nearest refinery at the spot price and due to the global nature of the oil market, every oil producer is a competitor. Key competitors include Rio Tinto, BHP, and Bounty Oil & Gas.

Caspian Oil & Gas Limited is exploring and developing prospective and oil lease holdings around the Fergana Basin in the Kyrgyz Republic and investigating other opportunities in Central Asia and Romania. Sharing the oil rich Fergana Basin with Uzbekistan and lying next to China's Tarim Basin, the Kyrgyz Republic has had more than 100 years of active oil production.

Caspian Oil & Gas (CIG) Products and Services

  • Oil explorer

Caspian Oil & Gas (CIG) Locations and Subsidiaries

Caspian Oil & Gas Head Office
30 Ledgar Road, Ground Floor,
BALCATTA, WA 6021

Phone: (08) 9240 2405
Fax: (08) 9240 2406

Caspian Oil & Gas (CIG) Share Price

Submitted by ASX Listed Company on 6 March, 2010 - 07:58

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