JPMorgan - KASE

Table of contents
Page
Presentation of Financial and Other
Information ....................... iii
Presentation of Our Reserve Information iii
DefinitionsandOtherMatters ......... iv
Certain Publicly Available Information . . iv
Enforceability of Liabilities and Service
ofProcess ......................... iv
Notice to New Hampshire Residents .... vi
AvailableInformation ................ vi
Special Note Regarding Forward–
Looking Statements ................ vi
Offering Memorandum Summary ...... 1
RiskFactors ......................... 14
Use of Proceeds ...................... 28
Capitalization ....................... 28
Selected Historical Consolidated
FinancialData ..................... 29
Management’s Discussion and Analysis
of Financial Condition and Results of
Operations ........................ 31
Business and Properties ............... 54
Page
Management ........................ 85
Principal Shareholders ................ 90
RelatedPartyTransactions ............ 91
Description of Certain Financing
Arrangements ....................... 94
Description of the Notes .............. 96
CertainTaxConsiderations ............ 140
Plan of Distribution .................. 145
Transfer Restrictions .................. 148
Legal Matters ........................ 149
Independent Accountants ............. 149
Experts ............................. 149
Where You Can Find More Information . 150
TheIssuerandtheGuarantors ......... 150
General Listing Information ........... 154
Index to Financial Statements .......... F-1
Appendix A: Glossary of Selected Oil and
NaturalGasTerms.................... A-1
Appendix B: The Republic of Kazakhstan B-1
Appendix C: The Oil Industry in
Kazakhstan ......................... C-1