By OGJ editors
HOUSTON, Apr. 7 -- Hurricane Hydrocarbons Ltd., Calgary, plans to ask shareholders at an May 7 meeting in Toronto to approve a corporate name change to PetroKazakhstan Inc.
Hurricane CEO Bernard Isautier said the proposed new name would "emphasize the focus and continued commitment of the company to be a major participant in the growth of the petroleum industry in Kazakhstan."
Kazakhstan's oil production averaged 950,000 b/d in the first 8 months of 2002, of which Hurricane as the second largest non-Kazakh producer provided 15%. Kazakhstan's production target in 2010 is 1.95 million b/d (OGJ, Nov. 25, 2002, p. 52).
The new name will not involve any change of ownership or management, Isautier added. The company anticipates that PetroKazakhstan stock will begin trading in June on the New York Stock Exchange and also on the Toronto Stock Exchange.
