Macro Tsimmis

intelligently hedged investment

Transmeridian (TMY) update #9

Posted by intelledgement on Wed, 03 Oct 07

Transmeridian (TMY) management announced this morning that production of oil from their South Alibek field has resumed, all approvals from the Kazakhstani government with respect to their revised gas flaring allowances having been obtained. The production curtailment lasted about three months.

Hopefully the resumption of production will enable the company to cut their operating losses and by removing one uncertainty, facilitate a sale of the South Alibek license, which management are now soliciting.

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