On Monday, Petrolinvest exploration company from the group of Ryszard Krauze, said it had suspended negotiations over the acquisition of Russian firms. Petrolinvest had promised to conclude the transaction worth USD 100m in the middle of August.
Then, talks were stopped in order to once more
check the fields owned by the companies and their financial condition. The
results must have been bad. Officially, the management explained that it was
withdrawing in order to focus on oil exploration in Kazakhstan. In another
statement, the company said that EmbaJugNieft, a company from Petrolinvest
group, is conducting further sample exploration works in Kazakhstan. Investors
were encouraged by the news. Yesterday, Petrolinvest stock fell only 4.7
percent.