BMB Munai Inc (KAZ)

[microcap4]

Another gap higher and is anyone here? Looks like we will have a good October.

[microcap4]

Nice action today and great gap and volume.

[GIVEMEINFO]

Any ideas what will happen to our shares if kaz cease to list at AMEX and only be quoted OTC or pink sheets? What does it have to do with the sales of Emir?

[microcap4]

Is anyone else here? I may add today.

[microcap4]

Nice action yesterday now we need some VOLUME and iMO we will have a quick double

[illegal_alias]

I'm already in

[microcap4]

I plan on adding this week

[microcap4]

Is anyone new here and buying? We do look good.

[microcap4]

Is anyone else here or buying it sure looks ready to run.

[microcap4]

Hopefully the shke out is about over.

[microcap4]

I added 20,000 today and IMO very strong and once we break this level we could run. I may add more this week.

[tommer]

it does look strong

[microcap4]

Are any of you guys buying here? This looks very good to me and this is the time for energy stocks. I may get some today.

[tommer]

this thing has been pretty dead recently huh?

[OilStockReport]

I agree, and it might not be a bad thing!

[QualityStocks]

KAZ Video Chart 4/19/11

http://www.qualitystocks.net/videocharts.php

BMB Munai, Inc. is not a current client of QualityStocks

[JJ99999]

A better deal?

MIE will have to pay:
$170m acquisition cost
$60m for drilling the remaining six wells in order to obtain production license.
$120m for drilling twelve wells in the NW block.

Total is $350m


MIE can pay $170m and let KAZ issue 56m additional shares for $3/shr. The proceeds can go directly into drilling. If BMB were to get $170m capital infusion, debt to equity ratio would drop to 25% and they can probably refinance the $60m note for another 5 years.

$170m for seventeen wells

[littlejohn]

Did Sokol Holdings vs KAZ ever give a fair playing field to KAZ shareholders?...The question will likely linger long after for investors that saw an oil lease rich company never able to renegotiate loans as needed...

But did Sokol Holdings need to pursue the suit so hard?...

http://uk.finance.yahoo.com/news/Berkshire-Sokol-defiant-reuters_molt-595623711.html?x=0

Mr. Sokol getting plenty of press time recently...

http://news.search.yahoo.com/search;_ylt=A2KJ3CVzkZZNn1EAIGGy87UF;_ylc=X1MDMjE0MjQ3ODk0OARfcgMyBGZyA2Zpbi1uZXdzBG5fZ3BzAzAEb3JpZ2luA3N5YwRxdWVyeQNzb2tvbARzYW8DMA--?p=sokol&fr=fin-news&fr2=sfp&iscqry=

The Sokol litigation is now water under the bridge...

http://www.corporatefinancialweeklydigest.com/2010/07/articles/litigation/appropriation-of-business-plan-supports-unfairness-claims/

But did many lose that tried to do their homework properly because of one's business passion may always be a lingering question for me?...LJ

[tommer]

It is highly undervalued I think

[eliabby]

Will the company remain in business or have any holdings after the buyout closes?

eliabby

[OilStockReport]

KAZ might not me the most talked about stock, but it looks like its going to pick up!

BMB Munai (KAZ) is trading around $1. BMB Munai is a independent oil and gas company based in Kazakhstan. These shares have traded as high as $1.22 in the last 52 weeks. KAZ has a book value of about $4.08 per share, see more financial data here. P1 reserves for KAZ is about 23 million barrels of oil (about 82 million in P2 reserves).

What might make KAZ a solid investment: KAZ has received a buyout offer from MIE Holdings which values the company at about $170 million or roughly $1.40 per share. Under the terms of the agreement, KAZ shareholders would receive an initial cash payment of somewhere between $1.04 to $1.10 at the time of closing and be entitled to an additional payment later which the company states as follows: "The company intends to make a second distribution to stockholders that could range up to approximately $0.30 per share following termination of the escrow ... " This gives a total possible cash payout of around $1.40 per share, if you are patient for the deal to close. Since KAZ is selling the operating subsidiary, it could be that in addition to the cash payments, KAZ shares will still be trading with some potential value which could increase the returns for KAZ shareholders.

[tommer]

I would of thought this would have gone to the 1.50 range with all the other energy stocks

[kairos]

BMB Munai, Inc. Announces Note Restructure
Mar 8, 2011 5:45:00 PM


ALMATY, Kazakhstan, March 8, 2011 /PRNewswire/ -- BMB Munai, Inc. (NYSE Amex: KAZ) announced today that it has restructured its outstanding U.S. $60 million aggregate principal amount of 9.0% Convertible Senior Notes due 2012 (the "Notes"). In connection with the restructure (the "Note Restructure"), the Company entered into, among other agreements, Supplemental Indenture No. 6, dated March 4, 2011, between the Company and The Bank of New York Mellon, as trustee ("Supplemental Indenture No. 6"), including an Amended and Restated Indenture, dated as of March 4, 2011, between the Company and the trustee (the "Restated Indenture").

Pursuant to the Note Restructure, the Company, among other things, (i) increased the coupon rate of the Notes from 9.0% to 10.75%, (ii) made a $1.0 million cash payment to holders of the Notes, (iii) increased the aggregate principal amount of the Notes from $60.0 million to $61.4 million, (iv) extended the maturity date from July 13, 2012 to July 13, 2013, (v) granted the holders of the Notes a new put option, exercisable one year prior to the new maturity date, (vi) agreed to additional covenant restrictions, including a prohibition on paying dividends on shares of the Company's common stock and on the pledge or disposal of assets, (vii) agreed to semi-annual principal amortization payments of 30% of the Company's excess cash flow, (viii) agreed to allow the holders of the Notes to appoint a member to the board of the directors of the Company and the board of directors or similar body of Emir Oil LLP, the Company's wholly-owned subsidiary, and (ix) entered into a new Investors Rights Agreements, dated as of March 4, 2011, with the holders of the Notes and other parties (the "Rights Agreement").

In connection with the Note Restructure, the holders of the Notes approved the sale of Emir Oil LLP ("Emir Oil"), the Company's wholly-owned operating subsidiary, to Palaeontol B. V. (the "Buyer"), a subsidiary of MIE Holdings Corporation ("MIE"), pursuant to the Participation Interest Purchase Agreement dated February 14, 2011 among the Company, the Buyer and MIE. If the sale of Emir Oil is consummated, the Company will be required to redeem the Notes out of the sale proceeds.

Subject to approval of the Company's common stockholders, the Note Restructure will also include a reduction of the conversion price of the Notes from $7.2094 per share to $2.00 per share with a corresponding reduction in the minimum conversion price from a floor of $6.95 per share to $1.00 per share (the "Conversion Price Reduction"). The Conversion Price Reduction may also be subject to regulatory approval of the Kazakhstan Ministry of Oil and Gas.

Information Regarding SEC Filings

The Company will file with the U.S. Securities and Exchange Commission ("SEC") a current report on Form 8-K, which will include Supplemental Indenture No. 6, the Restated Indenture, the Rights Agreement and the Note Restructuring Agreement, dated as of March 4, 2011, between the Company and the holders of the Notes. The proxy statement the Company plans to file with the SEC and mail to its common stockholders will contain information about the Company, the Note Restructure, including the Conversion Price Reduction, the sale of Emir Oil, and related matters. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE CONVERSION PRICE REDUCTION. In addition to receiving the proxy statement from the Company by mail, stockholders will be able to obtain the proxy statement, as well as other filings containing information about the Company, without charge, from the SEC's website at www.sec.gov or, without charge, from the Company at its website at www.bmbmunai.com. This announcement is not a solicitation of a proxy.

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the Conversion Price Reduction. Information concerning the Company's directors and executive officers is set forth in the Company's annual report on Form 10-K for the year ended March 31, 2010, which was filed with the SEC on June 24, 2010. Additional information regarding the interests of the Company's participants in the solicitation of proxies in connection with the Conversion Price Reduction will be included in the proxy statement to be filed with the SEC. The Company's press releases and other information about the Company are available on the Company's website.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking" statements regarding the filing of a current report on Form 8-K and a proxy statement, the delivery of a proxy statement to the Company's common stockholders, the solicitation of proxies in connection with the Conversion Price Reduction, and the sale of Emir Oil. All such forward-looking statements are subject to uncertainty and changes in circumstances. Moreover, no forward-looking statements are guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include the failure of the Company to complete the contemplated SEC filings and solicitation of proxies or the failure to consummate the sale of Emir Oil. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.

NYSE Amex has neither approved nor disapproved of the contents of this press release.

SOURCE BMB MUNAI, INC.


----------------------------------------------
Adam R. Cook
Corporate Secretary
[phone]
[e-mail]
or Daniyar Uteulin
Vice President for Investor Relations in Kazakhstan
[phone]
[e-mail]
both of BMB MUNAI
INC.

[littlejohn]

Exploding oil prices exposes the lowball buyout the company proposed for shareholder acceptance as even more inadequate...Imo, of course...LJ

[Hot_Oatmeal]

Is that's 10q just released good or bad? @ wrk Dnt have time to read it all

[futrcash]

After the sale of its subsidiary Emir Oil-

Does Kaz have any remaining business? thanks
___________________________________________________________

BMB Munai, Inc. Agrees to Sell Its Operating Subsidiary, Emir Oil LLP


ALMATY, Kazakhstan, Feb. 14, 2011 /PRNewswire/ -- BMB Munai, Inc. (NYSE Amex: KAZ) (the "Company") today announced that it has entered into a definitive purchase agreement to sell all of its interest in its wholly-owned operating subsidiary, Emir Oil LLP, to a subsidiary of MIE Holdings Corporation (HKEx: 1555). The initial purchase price is $170 million, which is subject to various closing adjustments and the deposit of $36 million in escrow to be held for a period of twelve months following the closing for indemnification purposes. In connection with the purchase, all notes and sums owed by Emir Oil LLP to the Company will be transferred to the purchaser. Upon consummation of the sale, the Company will use a portion of the proceeds to repay the Company's outstanding $60 million convertible senior notes.

The Company intends to make an initial cash distribution to stockholders in the estimated range of $1.04 to $1.10 per share upon the closing from the transaction proceeds, after giving effect to the estimated closing adjustments and escrow amount and the repayment of the convertible senior notes and after providing for the payment of or reserve for other anticipated liabilities and transaction costs. The mid-point of the estimated initial distribution price range ($1.07) represents a premium of 19% over the prior 30-day average trading price of the Company's common stock. The Company intends to make a second distribution to stockholders that could range up to approximately $0.30 per share following termination of the escrow, subject to the availability of funds to be released from the escrow, actual costs incurred and other factors.

The definitive purchase agreement was approved by the five independent directors of the Company, based upon the recommendation of an independent oversight committee of the board. UBS Investment Bank advised the independent oversight committee in the transaction.

Closing Conditions and Stockholder Approval

The transaction is subject to certain conditions, including regulatory approvals and other customary closing conditions. The transaction is also subject to approval by the stockholders of the Company and the stockholders of MIE Holdings. The Company expects to complete the closing in the third quarter of calendar year 2011.

The transaction and certain aspects of the note restructuring (described below) must be approved by a majority of the holders of the Company's common stock. The Company expects to hold a special meeting of stockholders and in connection therewith to mail a proxy statement to its stockholders that will provide additional information concerning the transaction, the definitive purchase agreement and the note restructuring. Certain principals of the Company, who collectively own approximately 24% of the Company's outstanding shares of common stock, have agreed to vote their shares in favor of the transaction at the stockholders' meeting.

Information Regarding SEC Filings

The Company will file with the U.S. Securities and Exchange Commission (SEC) a current report on Form 8-K, which will include the definitive purchase agreement. The proxy statement that the Company plans to file with the SEC and mail to stockholders will contain information about the Company, the proposed sale and note restructuring transactions and related matters. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE PROPOSED TRANSACTIONS. In addition to receiving the proxy statement from the Company by mail, stockholders will be able to obtain the proxy statement, as well as other filings containing information about the Company, without charge, from the SEC's website at www.sec.gov or, without charge, from the Company at its website at www.bmbmunai.com. This announcement is not a solicitation of a proxy.

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed transactions. Information concerning the Company's participants is set forth in the Company's annual report on Form 10-K for the year ended March 31, 2010, which was filed with the SEC on June 24, 2010. Additional information regarding the interests of the Company's directors and executive officers in the solicitation of proxies in connection with the proposed transactions will be included in the proxy statement to be filed with the SEC. The Company's press releases and other information about the Company are available on the Company's website.

Note Restructuring

In connection with the definitive purchase agreement, the Company obtained a waiver with respect to the Company's execution of the purchase agreement from holders of the Company's outstanding $60 million convertible senior notes. The closing of the purchase agreement, however, remains subject to approval by the noteholders. As previously announced, the Company is restructuring the notes pursuant to which the terms of the notes will be amended to, among other things, (i) increase the coupon rate to 10.75%, (ii) require the Company to make a $1.0 million cash payment towards the principal balance of the notes, which will result in an adjusted principal amount of $61.4 million after giving effect to the restructuring, (iii) extend the maturity date to July 13, 2013, (iv) grant the noteholders a new put option, exercisable one year prior to the new maturity date, (v) reduce the conversion price of the notes to $2.00 per share, (vi) provide additional covenant restrictions by the Company, including a prohibition on paying dividends on shares of the Company's common stock and on the pledge or disposal of assets, (vii) provide for semi-annual principal amortization payments of 30% of the Company's excess cash flow, and (viii) allow the noteholders to appoint a member to the board of the directors of the Company and the board of directors or similar body of Emir Oil. If the sale transaction is consummated, the Company expects to redeem the notes.

Certain aspects of the note restructuring will be subject to stockholder approval and may be subject to the regulatory approval of the Kazakhstan Ministry of Oil & Gas. If such regulatory approval is required and not obtained, the noteholders will have an additional put option. The Company and the noteholders continue to work toward definitive documents to restructure the notes upon the terms disclosed above and upon other additional terms.

About MIE

MIE Holdings and its subsidiaries is one of the leading independent upstream oil companies operating onshore in the People's Republic of China (PRC) as measured by gross production under production sharing contracts. MIE Holdings operates the Daan, Moliqing and Miao 3 oilfields in the Songliao Basin, the PRC's most prolific oil-producing basin, under three separate production sharing contracts with PetroChina, the largest oil company in China. In addition, MIE Holdings pursues other development and production opportunities in China, and exploration, development and production opportunities internationally, both independently and in partnership with other major and independent oil companies.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking" statements regarding the Company's proposed sale of Emir Oil LLP, the anticipated cash distributions to stockholders, the amount of such distributions, the closing of the transaction and the timing thereof, the filing of various information with the SEC, and the restructuring of the notes and the terms thereof. All such forward-looking statements are subject to uncertainty and changes in circumstances, and there is no assurance the sale transaction or the note restructuring will be consummated. Moreover, no forward-looking statements are guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include the failure of any one or more of the closing conditions to the sale transaction, termination of the definitive purchase agreement, and other economic, business and regulatory risks and factors identified in the Company's periodic reports filed with the SEC. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.

NYSE Amex has neither approved nor disapproved of the contents of this press release.

SOURCE BMB Munai, Inc.


News Provided by Acquire Media

[littlejohn]

KAZ below $1.40 to $1.50 range may offer returns above most market averages for investors...

Whole lotta share flippers don't care about buyout potential or if it may be considered low...LJ

[GIVEMEINFO]

Of course! I was about to sell my shares in KAZ but after I read the deal of the sale I hold it. They're gonna give cash to shareholders when conditions of the sale are met. It like giving out dividends on the sale of EMIR. This is good to hold.

[littlejohn]

Yeah, the stockholders of the China holding company...

Take $4 book value and give out over a $1 per share to folks and...

...it looks like more courtin news ahead came out on Valentine's Day...

My thoughts lead me to believe that controllers in the big bank with a N.Y., U.S.A. address that holds the large company debt may have some strong interests for foreign oil reserve's control swaying them after watching the last year or so...

All IMO...LJ

[The Izer]

The purchase agreement with Emir seems like a good thing for stockholders, am I correct?

[littlejohn]

Can U say, 'cheap China oil reserves'?...LJ

[Serfcorp]

Starting DD on this one,looks interesting imo..

[tommer]

Looking good here

[mick]

Bmb Munai, (KAZ)
0.87 ? 0.008 (0.93%)
Volume: 53,385 @ 4:52:51 PM ET

Bid Ask Day's Range
0.57 1.39 0.8628 - 0.881

KAZ Detailed Quote

[littlejohn]

KAZ filed an 8-K after the close Friday...LJ

[tommer]

this down because of oils drop today....
looking good soon though!

[tommer]

how about i remember when this traded a lot higher than it does today =)http://finance.yahoo.com/q/bc?s=KAZ&t=5y&l=on&z=l&q=l&c=

[littlejohn]

Huge oil reserves!...Below book value!...Super earnings growth potential!...

Appreciate your enthusiasm...Try to add a smidgen about the company in posts..lol...LJ

[tommer]

this will be too late to get in when it goes

[tommer]

with oil going up this should cha ching soon!

[tommer]

this thing was so hot a couple of years ago, what happened?

[dffhogs]

up 5% today...chart looking good.

[littlejohn]

KAZ filed an 8-K on debt negotiation activities...LJ

http://ih.advfn.com/p.php?pid=nmona&article=45781773

[littlejohn]

Good job and hopefully KAZ is still...



while you rest...LJ

[deadjim]

sayonara, fellas. i'm out for a whopping +.10 ...zzz

[littlejohn]

KAZ 10Q filing is out...At 1st glance the biggest expense increase came from lawsuit expenses which hampered net income for the quarter...LJ

[littlejohn]

Lack of visibility being given to shareholders for the reduced quarter oil production recently disclosed may be seeded by some resentment from management about that court case...

They might have some folks waiting for better prices if US shareholders start selling heavier...

Just blabbing about speculating on things which we should know more about...Been babbling from at least 50% lower position than I would like to for a spell awaiting debt restructuring completion...

Selling ahead of lowered production likely came when the price was above a $1/share but still some unknowns to guesstimate about...LJ

[illegal_alias]

I would tend to agree with that assessment. Also, the court case drags on. I checked the docket history and the last two items are not public. They are transcripts of hearings held before the judge on Oct 4 and Oct 5, the latter not even being posted until Nov 5.

[maxluke1]

KAZ - I think it will get hit quite a bit after earnings because of the hit the earnings will likely take as a result of not producing oil for 3 months. I will wait until after earnings then try to get in at a nice price.

[littlejohn]

Its hard to believe they didn't produce oil for about 3 months and didn't put out more info on the subject ahead of time to shareholders...

Seemed to hold well on Tuesday after the early morning pr...LJ