with the first results out of the Kyrgyz Republic due in around a week, wouldn't be surprised if CIG was the next oil stock to start to move.
the area they are currently drilling in covers the oil rich Fergana Basin joining Uzbekistan and the Kyrgyz Republic with oil reserves dicovered of over 1 billion barrels to date.
A major plus for CIG is the lack of exploration since the break up of the old Soviet Union meaning there has been no use of new technology in the search for oil over the last 20 years.
The area is considered that prospective for oil they have drawn interest from major player Santos who are spending $24 million on exploration as well as holding a 15% stake in CIG.
With their own drill rig and 11 wells to be drilled back to back don't be surprised if this becomes one of the traders favourite stocks, simply for the continious news coming out of the company.
And to top it all of they also have major exposure to the rampant Gold price thanks to their 20% stake in listed gold explorer PRU.
if they hit any oil in the first Krygyz well it may well be off to the races for CIG.
keep an eye on CIG heading into this weekend as the results are likely to be released either Monday or Tuesday so expect alot of volume from people trying to get in before the weekend ahead of the release of the exploration results.
CIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
