By OGJ editors
HOUSTON, Dec. 13 -- A subsidiary of Big Sky Energy Corp., Calgary, acquired a 50% operating interest in the Alakol Block in the basin of the same name on the Kazakh-China border in eastern Kazakhstan.
Big Sky Energy Alakol Ltd. purchased the interest from Remas Corp. LLP, a Kazakh registered company, for historical costs and initially the assumption of the first 3 years of contractual work commitments. The deal is subject to energy ministry approval.
The block covers 32,000 sq km near the city of Drujba, through which the soon to be commissioned Kazakh-China oil pipeline passes. The block offsets Karamay, China's third largest oil field, located in the Junggar basin.
Big Sky plans to acquire seismic data in the first half of 2006.
