Courtesy of Petrolinvest.pl

On Monday, the share price of oil exploration company Petrolinvest rose by
20.19% and closed the day at zł.247, the highest growth in its listing this
year.

"This is the result of our Friday communique in which we informed that
Petrolinvest received permission from the Energy Ministry of Kazakhstan to
purchase shares in local oil companies. [...] The operation will be closed
within 4-6 weeks," said Paweł Gricuk, president of Petrolinvest.

Recently the firm has been surrounded by less positive information, according to
which oil exploration in Kazakhstan is not feasible. "Test drillings in Żubantam and Maksat-Munai show that the deposits are financially feasible," said Paweł Gricuk.

According to market rumors, the firm is also apparently laying off employees in Kazakhstan. "Signing investment contracts for taking full control of our licenses enables us to boost management effectiveness.

We want to use the synergy of our companies in Kazakhstan and optimize
employment," said the CEO. (Puls Biznesu, pp. 1, 8) M.M.