Part 5 : For preceding part double-click [nRn4A2713Y]  
ongoing basis with the result that the Partnership's exposure to bad debts and 
recoverability of prepayments made is not significant and thus risk of credit 
default is low.  
  
Fair values of financial instruments  
  
Fair value is defined as the amount at which an instrument could be exchanged in 
a current transaction between knowledgeable willing parties according to arm's 
length conditions, other than in a forced or liquidation sale. As no readily 
available market exists for a large part of the Partnership's financial 
instruments, judgment is needed to arrive at a fair value, based on current 
economic conditions and the specific risks attributable to the instrument.  
  
Management believes that the Partnership's carrying value of financial assets 
and liabilities consisting of cash and cash equivalents, trade accounts 
receivable and advances, trade and other payables and obligations under debt 
instruments are not significantly different from their fair values at December 
31, 2008 and 2007.  
  
24.    Subsequent events  
  
On February 4, 2009 the Kazakhstan Tenge ("KZT") devalued against US$ and other 
major currencies. The exchange rate before and after devaluation were 120 
KZT/US$ and 150 KZT/US$, respectively.  
  
On March 20, 2009 the Partnership has concluded an amendment to its export oil 
sales hedging contract with BNP Paribas, under which the minimum Brent crude oil 
price was set at US$50 per bbl for at least 25% of the initial production 
profile for the NE and W Tournasian horizons for the period from March 2009 
through to June 2010. The amendment to the contract has resulted in a cash 
payment of US$ 40,500 thousand being made to the Partnership.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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