alakol basin

Things are a bit quiet on this thread so thought I would post this & see what interest there is. Sorry about the length but it is good info. (IMHO).
In 2007, The Chairman of the Committee for Geology and Subsoil Protection of the RK Ministry of Energy and Mineral Resources, a Mr Bolat Uzhkenov made the following statement regarding the Alakol Basin:
“The Alakol basin area is a geological and geographical extension of the Dzungarian oil-and-gas bearing basin of China in Kazakhstan. The analysis of materials studying the Northern Dzungarian region allow us to consider the Dzungarian and Alakol depressions as two giant reservoirs, linking to each other by a tectonic passage, called the Dzungarian Gates.
The most favorable conditions for formation of oil and gas were in the Permian Period, a period when volcanic activity activated in this region. Despite insufficient study of this area, many observations give evidence of the high probability of oil-and-gas occurrence at the Kazakhstan part of the Northern Dzungaria. To the north from the main Dzungarian fracture under supposed thrust, within the Gaity River basin the veins of asphalt types in limestone, abundantly impregnated with bitumen were discovered.
On the opinion of the majority of researchers, the most promising area for the initial hydrocarbons exploration stage is the graben of the Dzungarian Gates. Admittedly, the maximum depth of the graben is located within the southern boundaries of the Dzungarian Gates, reaching 3,000 meters. On the opinion of geologists, at this depth there can be discovered hydrocarbon-containing sediments of the Jurassic Period. Geological survey operations within the Alakol depression have only just been started this year.
The Remas Company carried out an offshore magnetic survey of 380 linear kilometers in the Alakol Lake basin. A 2D seismic survey was conducted both onshore and offshore. Over 400 linear kilometers onshore and over 55 linear kilometers offshore were drilled. Currently, the filed study material is being simultaneously processed and interpreted. Geochemical sampling was made within the area of occurrence of source rock and in the area of hydro geological wells. In one of the wells a hydrocarbon skim was discovered on the eastern shore of the Alakol Lake.”

If the geologists are correct and the Dzungarian Depression (also known as the Junngar Basin with est reserves of 5bbls oil) is extending into the Alakol then Eastern Petroleum could possibly make a massive oil discovery in the area they are focussing on.

IMHO this one is definitely one to watch.I missed out in the mid 20's so waiting for pullback. The market seems to like this deal (Fri vol well up) but should the Timis factor be a concern? Anyone got any views on this?