CRIMEA AWARDS FIRST PRODUCTION SHARING CONTRACT

A 4 year old Houston geotechnical consulting firm has signed a contract it believes to be the first production sharing agreement in Crimea, part of the former Soviet Union. HyTEXplor Houston Inc. and Crimea's Krymgeologia, or State Geological Production Association, will form a production company to develop and operate fields in Crimea and four adjacent states in Ukraine. HyTEXplor officials say exploration, especially deeper pool tests in present fields, is possible under the contract.

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