Message #26 From:
NewsBot Date: December 13, 2005 05:55:00 AM
BSKO News Big Sky Energy Purchases 50% Interest in the Alakol Block, Kazakhstan
CALGARY, Alberta--(BUSINESS WIRE)--Dec. 13, 2005--Big Sky Energy Corporation (OTCBB:BSKO) (the "Company") announced today that its subsidiary Big Sky Energy Alakol Ltd., has purchased a 50% operating interest in the Alakol Block, which is located on the Kazakh-China border in eastern Kazakhstan.
The Company purchased the sub-soil rights from Remas Corporation LLP, a Kazakh registered company, for historical costs and initially the assumption of the first three years of contractual work commitments. This Agreement is subject to the Kazakh Ministry of Energy, Mines, and Resources approval.
The Alakol Block is approximately 32,000 sq.km. in area, and is located on the Kazakh-China border, near the city of Drujba, through which, the soon to be commissioned Kazakh-China oil pipeline passes. The Block offsets Karamai, China's third largest oil field, located in the Jungar Basin, which is believed to extend into the Alakol Block.
"Very little exploration has occurred on this Block given the activity in western Kazakhstan, and as a result, we believe the potential offered by such a large acreage position is significant," stated Mr. Al Sehsuvaroglu, the Company's President and CEO. "We will shoot seismic first half of 2006 in order to assess this potential."
Big Sky Energy Corporation is a US junior oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder of hydrocarbons. The Company is currently operating in Kazakhstan's pre-Caspian and Jungar Basins.
NOTE: The information contained in this press release contains forward looking statements which are based on the current expectations of the management of Big Sky Energy Corporation only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to Big Sky Energy Corporation, please refer to its Form 10-KSB and Form 10-QSB reports, as filed with the U.S. Securities and Exchange Commission.
Big Sky Energy Corporation (OTC Bulletin Board:BSKO)
