JPMorgan - KASE

Non-FCA sales ................
Oil ............................
Operator ......................
Payout ........................
Export sales made on terms under which title passes to
crude oil outside Kazakhstan. Under these sales, we arrange
all transportation to the port and assume the obligation for
this transportation. These sales include sales made FOB (free
on board), CIF (cost, insurance and freight), CPT (carriage
paid to) and DAF (delivery at Frontier). In the tables in this
offering memorandum, these sales are shown as “Crude
sales sold FOB”.
Crudeoilandcondensate.
The individual or company responsible for conducting oil
and gas exploration, development and production activities
on an oil and gas lease or concession on its own behalf and,
if applicable, for other working interest owners, generally
pursuant to the terms of a joint operating agreement or
comparable agreement.
Recoupment of costs of production by a driller or developer.
present value ................. When used with respect to oil and gas reserves, the
estimated future gross revenues to be generated from the
production of proved reserves, net of estimated production
and future development cost, using prices and costs in
effect as of the date indicated without future escalation,
except as otherwise provided by contract, without giving
effect to non-property related expenses such as general and
administrative expenses, debt service and future income tax
expenses or to depreciation, depletion and amortization,
discounted using specified discount rates.
Producing well ................
Proved developed producing
reserves .....................
A well that is producing oil or gas or that is capable of
production.
Proved reserves that are actually on production, or if not
producing, that could be recovered from existing wells or
facilities and where the reason for the current nonproducing
status is the choice of the owner. Reserves
assigned to non-producing zones in producing wells were
classified as producing if the reserve quantities were
estimated to be minor relative to our reserves in the area.
proved developed nonproducing
reserves .......... Reserves recoverable from existing wells that require
relatively minor capital expenditures to produce.
proved developed reserves ....
proved reserves ...............
proved undeveloped reserves . .
Reserves that can be expected to be recovered through
existing wells with existing equipment and operating
methods under existing economic and operating conditions.
Estimated quantities of crude oil, natural gas and natural
gas liquids which geological and engineering data
demonstrate with reasonable certainty to be recoverable in
future years from known reservoirs under existing economic
and operating conditions, i.e., prices and costs as of the
date the estimate is made.
Reserves that are expected to be recovered from new wells
on undrilled acreage, or from existing wells where a
relatively major expenditure is required for recompletion.
A-2