PetroKazakhstan Announces Lukoil Notice of Intention to Oppose Arrangement.
11 Outubro 2005 - 11:01AM
PR Newswire (US)
CALGARY, Oct. 11 /PRNewswire-FirstCall/ -- PetroKazakhstan Inc.
(the "Company") announced today that it has received from Lukoil
Overseas Kumkol B.V. ("Lukoil") a notice of intention to appear at
the hearing on October 18, 2005 before the Alberta Court of Queen's
Bench to consider the Company's application for a Final Order
approving the previously announced Arrangement providing for the
acquisition by a wholly-owned subsidiary of CNPC International Ltd.
of all outstanding common shares of PetroKazakhstan for US$55.00 in
cash. In its notice of intention to appear, Lukoil states that it
intends to oppose the Arrangement and request that the Court defer
approval of the Arrangement until the issue as to whether Lukoil
has a pre-emptive right to acquire the Company's interest in AO
Turgai Petroleum under the Turgai shareholders' agreement as a
result of the Arrangement is determined by the Arbitration
Institute of the Stockholm Chamber of Commerce in accordance with
the Turgai shareholders' agreement. In the alternative, should the
Alberta Court of Queen's Bench grant the Final Order approving the
Arrangement, Lukoil stated its intention to seek the appointment of
an inspector to hold and manage the Company's interest in Turgai
pending determination of the pre-emptive rights issue before the
Stockholm Arbitration Institute. PetroKazakhstan considers Lukoil's
request is without merit, and intends to vigorously oppose the
requested relief and ask the Court to grant the Final Order
approving the Arrangement so that the Arrangement can be
implemented as scheduled on October 19, 2005. Shareholders are
reminded that the Special Meeting of PetroKazakhstan shareholders
to be held to consider the Arrangement will be held at 9:00am
(Calgary time) on Tuesday, October 18, 2005 at the Metropolitan
Conference Centre, 333 Fourth Avenue S.W. in Calgary, Alberta and
that the deadline for receipt of proxies for the Special Meeting is
5:00pm (Toronto time) this Friday, October 14, 2005. The
PetroKazakhstan Board recommends that Shareholders vote FOR the
Arrangement. Shareholders requiring assistance in completing their
proxy should call Kingsdale Shareholder Services at 1-866-588-6864
or 416-867-2335. PetroKazakhstan Inc. is a vertically integrated,
international energy company, celebrating its eighth year of
operations in the Republic of Kazakhstan. The Company is engaged in
the acquisition, exploration, development and production of oil and
gas, the refining of crude oil and the sale of oil and refined
products. PetroKazakhstan shares trade in the United States on the
New York Stock Exchange, in Canada on The Toronto Stock Exchange,
in the United Kingdom on the London Stock Exchange and in Germany
on the Frankfurt Exchange under the symbol PKZ. As of December 27,
2004, PetroKazakhstan shares began trading on the Kazakhstan
exchange under the symbol CA_PKZ. The Company's website can be
accessed at http://www.petrokazakhstan.com/. The Toronto Stock
Exchange has neither approved nor disapproved the information
contained herein. DATASOURCE: PetroKazakhstan Inc. CONTACT: Ihor P.
Wasylkiw, Vice President, Investor Relations, (403) 221-8658, (403)
383-2234 (cell); Jeffrey D. Auld, Vice President, Treasurer, + 44
(1753) 410-020, + 44 79-00-891-538 (cell)
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