BMB Munai Inc (KAZ)

[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