JPMorgan - KASE

In connection with this offering, J.P. Morgan Europe Limited, or any person acting on its behalf,
may over-allot or effect transactions with a view to supporting the market price of the notes at a
level higher than that which might otherwise prevail for a limited period after the issue date.
However, there is no obligation on J.P. Morgan Europe Limited, or persons acting on its behalf,
to do this. Specifically, J.P. Morgan Europe Limited may bid for, and purchase, the notes in the
open market to stabilize the price of the notes or to cover short positions, and may impose
penalty bids. Such stabilizing, if commenced, may be discontinued at any time, and must be
brought to an end after a limited period. For a description of these activities, see “Plan of
Distribution”.
Presentation of Financial and Other Information
Unless otherwise indicated, financial information in this document has been prepared in
accordance with generally accepted accounting principles (“GAAP”) in Canada. Canadian GAAP
differs in certain significant respects from U.S. GAAP. For a discussion of the most significant
differences between Canadian GAAP and U.S. GAAP relevant to us, see the U.S. GAAP
reconciliations contained in the notes to our consolidated financial statements included in this
offering memorandum. All amounts expressed in the financial statements forming part of this
offering memorandum are, unless otherwise specified, expressed in U.S. dollars.
In this offering memorandum, unless otherwise specified or unless the context otherwise
requires, all references to “dollars” or “$” are to U.S. dollars, all references to “Cdn.$” are to
Canadian dollars and all references to “Tenge” are to Kazakhstani Tenge. On February 6, 2003, (i)
the noon buying rate in the City of New York for cable transfers in Canadian dollars as certified
by the Federal Reserve Bank of New York was $1.00 equals Cdn.$1.5213 and (ii) the exchange
rate for Kazakhstani Tenge as quoted by the National Bank of the Republic of Kazakhstan was
$1.00 equals 155.0 Tenge. No representation is made that the Tenge, Cdn.$ or U.S.$ amounts
referred to herein could have been or could be converted into U.S.$, Cdn.$ or Tenge, as the case
may be, at any particular rate or at all.
Presentation of Our Reserve Information
The SEC generally permits oil and gas companies, in their filings with the SEC, to disclose only
proved reserves, after the deduction of royalties and interests of others, which are those reserves
that a company has demonstrated by actual production or conclusive formation tests to be
economically producible under existing economic and operating conditions. Canadian securities
laws permit oil and gas companies, in their filings with Canadian securities regulators, to disclose
not only proved reserves but also probable reserves, and to disclose reserves and production on a
gross basis before deducting royalties. Probable reserves are less accurately estimated and there
is greater risk that the reserves estimated will not actually be recovered. We have disclosed in our
public filings in Canada and in this offering memorandum reserves designated as “probable”. We
have determined and disclosed estimated future net cash flow from our reserves using both
constant and escalating prices and costs, whereas the SEC generally requires that prices and costs
be held constant at levels in effect at the date of the reserve report. In addition, the estimates of
future net cash flows included in our public filings in Canada and in this offering memorandum
based on constant price and cost assumptions, as reflected in the report prepared by McDaniel &
Associates Consultants Ltd., were prepared using average prices received by us during 2001, as set
out in the McDaniel Report, held constant for the economic life of the reserves, whereas the SEC
guidelines would require that the estimates of future net cash flows be prepared using prices in
effect as of January 1, 2002, the effective date of the McDaniel Report, held constant for the
economic life of the reserves.
Unless otherwise specified, reserve information contained in this offering memorandum has been
derived from the McDaniel Reports dated March 7, 2002, prepared by McDaniel & Associates
Consultants Ltd., independent petroleum engineers, referred to in ‘‘Summary Operating Data’’
and ‘‘Business and Properties—Oil and Gas Reserves.’’ This information has not been prepared in
accordance with U.S. GAAP.
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