com:20091106:RnsF0979C
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RNS Number : 0979C  
  
Zhaikmunai LP  
  
06 November 2009  
  
 NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR 
into AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES  
  
ZHAIKMUNAI L.P.  
  
Claremont agrees to sell 50 million GDRs at US$4.00 to KazStroyService  
  
London, 6 November 2009: Zhaikmunai L.P. ("Zhaikmunai"), the oil and gas 
exploration, development and production business based in northwestern 
Kazakhstan, has been informed by Claremont Holdings Limited ("Claremont") that 
is has agreed to sell 50 million GDRs, representing approximately 27 per cent of 
the company's issued common units, to KazStroyService Global BV ("KSS") at 
US$4.00 per GDR.    
  
KSS is an affiliate of JSC OGCC KazStroyService, which is currently constructing 
Zhaikmunai's gas treatment facility in the Chinarevoskoye field in Kazakhstan.  
  
Claremont, which is controlled by Frank Monstrey, the chairman of Zhaikmunai, is 
the holder of 125 million Zhaikmunai GDRs representing approximately 67.6 per 
cent of Zhaikmunai's issued common units. The one-year lock-up entered into by 
Claremont on 10 September 2009 following Zhaikmunai's $300m capital raising 
earlier this year has been waived in respect of the 50 million GDRs being sold 
to KSS under the terms of the Underwriting Agreement entered into by Zhaikmunai 
in July 2009. KSS will be subject to a lock-up in respect of the 50 million GDRs 
until 10 September 2010.    
  
The transfer is subject to receipt of necessary approvals under the 
anti-monopoly laws in the Republic of Kazakhstan and is expected to complete 
before the end of March 2010.  
  
Commenting on the transaction, Mr Monstrey, chairman of Zhaikmunai, said:  
  
"We look forward to welcoming KazStroyService as a shareholder in Zhaikmunai. 
KSS is an important strategic investor for the business and its purchase of a 
significant minority stake reflects its confidence in the prospects for 
Zhaikmunai going forward. Together with the capital raising earlier this year, 
the support from KSS will help underpin the business as it moves forward into 
the next stage of its development. Completion of the gas treatment unit by 
KazStroyService will help lift Zhaikmunai to a new level of production and we 
are very pleased that we will be working with KSS both as an investor and as a 
key industrial partner in Kazakhstan."   
  
For further information about Zhaikmunai please visit www.zhaikmunai.com    
  
Further enquiries  
  
ING  
  
Mark Martin                              +44 20 7767 6437  
  
Brunswick Group  
  
Michael Harrison/Carole Cable    +44 20 7474 5959  
  
Zhaikmunai                         info@zhaikmunai.com    
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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