News 2013
#1 (79), February 2013Roxi Petroleum
The oil and gas company Roxi Petroleum PLC, actively doing business in Kazakhstan, intends to attract $40 million from the issue of new shares. The Kazakhstani businessman, ex-chairman of the People’s Bank and АTF Bank Kairat Satylganov will become the company’s main investor.
About it became known from the company’s message. In particular, it is marked that the Kazakhstani investor Kairat Satylganov intends to subscribe to 355 million 165 thousand 716 new shares of Roxi under the approximate price of about 7 pence per share and having at the same time a considerable premium to the closing price up to 2.125 pence per share as of January 7, 2013, informs OilVoice. The total amount of the deal is estimated at $40 million.
It is specified that the first $10 million will be paid till January 31, 2013 as a result of which Satylganov will be the owner of 88 million 791 thousand 429 new shares of Roxi that comprises about 14.57 % of the company’s charter capital declared by the current date and about 12.7 % of the total amount of ordinary simple shares issued by Roxi. Other $30 million will be received by Roxi’s board in future in exchange for 266 million 374 thousand 287 new shares.
The obtained proceeds will be directed by Roxi at financing the projects, mainly by BNG, where attracted financing will make it possible to drill three deep wells and two shallow wells in 2013. According to Roxi, major part of work on preparation of two deep wells has been already completed, and in March 2013 it is planned to drill the first well to a depth of 4.7 km.
The second well 4.2 km in depth, as is expected, will be drilled in July 2013. Mr Satylganov is a Kazakhstani businessman and investor. It is marked in the message that under the signed agreement, it is supposed that the investor will enter the Roxi’s board of directors.