Was he refering to this. Monitor Energy was Monitor Holding.
A Santos subsidiary, Santos International Operations Pty Ltd, has entered into a farm-in agreements with Caspian Oil and Gas Limited and DWM (a Swiss registered company) where Santos will earn an 80% operated working interest in 17 exploration permits licensed to Textonic PLC, (a Caspian subsidiary) and a 70% interest in a further six permits licensed to South Petroleum. In addition Santos has taken a 15% direct equity placement in Caspian.
Santos will sole fund and operate a phased work program over all of the licences over a period of approximately four years to earn the working interests. Many of the licences are located in the Fergana Basin. The basin, which extends across parts of Kyrgyzstan and into Uzbekistan and Tajikistan is, in part, analogous to the prolific hydrocarbon province of the Tarim and Junggar Basins in western China, which contain many large fields.
The Fergana Basin covers an area of 63,000 square kilometres and has been producing hydrocarbons since the early 1900s. Cumulative discovered reserves from 58 fields are estimated to be in excess of 1.2 billion barrels of oil and 5.5 TCF of gas, with cumulative production to date of more than 600 million barrels.
Other exploration and production companies active in Kyrgyzstan include Kyrgyzgeofizica, (a government production company), Cambrian Oil and Gas and Monitor Holdings. A seismic program is planned for 2007 in the Santos interest licences which will target the firming up of prospects and leads for drilling in 2008.
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