FOR:
PETROKAZAKHSTAN
INC.
SUBJECT: CNPC
Acquisition of PetroKazakhstan Completed
CALGARY,
Alberta - PetroKazakhstan Inc. announced today that the acquisition of the
Company for US$55.00 cash per share by CNPC International Ltd. ("CNPC") pursuant
to a Court-approved Plan of Arrangement has closed. Shareholders will receive
payment for their shares from Computershare Trust Company of Canada within
the
next few days.
"We
are delighted that the process which we started several months ago has been
successfully concluded," said Mr. Bernard F. Isautier, Chairman, President
and
Chief Executive Officer of PetroKazakhstan. "CNPC has acquired a business
full
of opportunities and with high calibre employees. We wish them future success
in
Kazakhstan."
As
a result of the Arrangement, PetroKazakhstan is an indirect wholly-owned
subsidiary of CNPC. PetroKazakhstan has applied to delist its shares from
trading 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,
in
Germany on the Frankfurt Exchange and in Kazakhstan on the Kazakhstan Stock
Exchange.
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. The Company’s
website can be accessed at www.petrokazakhstan.com.
For
further information please contact:
|
Ihor
P. Wasylkiw
Vice
President Investor Relations
|
Jeffrey
D. Auld
Vice
President, Treasurer
+
44 (1753) 410-020
+
44 79-00-891-538 (cell)
|
Suite
#1460 Sun Life Plaza North Tower 140 - 4th Avenue S.W. Calgary, Alberta,
Canada
T2P 3N3
Telephone
(403) 221-8435 Fax: (403) 221-8425
