Significant milestones for measuring success of our operation and activities planned by our company in 2011 include:
- The finalization of the production sharing contract negotiations with the Tajik governmental authorities resulting in the exercise of the option to farm-in to CJSC Somon Oil Company’s prospecting licenses by Santos International Ventures Pty Ltd.
Seismic interpretation, geological modeling and spudding of the first wildcat well in Mongolia, based on the results of the geological data. The number of wells and the complexity of the drillings depend on the structures found and the costs associated are estimated to range from $6,000,000 to $18,000,000.
The spudding of one wildcat well on the Nanai license in the Kyrgyz Republic, based on the farm-in agreement signed with Santos International Operations PTY Ltd. dated October 4, 2006.
The spudding of one wildcat well in the second half of 2011 in Tajikistan.