Page 1 of 1 - -------------------------------------------------------------------------------- Attachment to License series MG # 249 (oil) dated June 28, 1995 "A p p r o v e d" by the Prime-Minister of Republic of Kazakstan __________ A. S. Yesimov September "_______", 1997 R E S O L U T I O N #R 97 - U dated September 11, 1997, on amendment of license conditions LICENSE: License series MG #249 (oil) dated 6/28/95. LICENSEE: Karakudukmunay Inc. MINISTRY OF ENERGY AND NATURAL RESOURCES OF REPUBLIC OF KAZAKSTAN, according to the letter of the Department of oil and gas #4 3/219 dated 9/9/97. Inserts the following amendments to the license conditions: I. Clause 8.2 of the License shall be amended as follows: 8.2. Minimum work program 8.2.1 Evaluation stage 1. Before 12/31/99 8 new wells with the depth of 3250-3500 m. shall be drilled and 4 exploration wells worked over. As the protocol of the State Reserves Committee does not recommend to carry out 3D seismic, it is proposed to solve this question later, depending on geological results of drilling the first production wells. 8.2.2 Development stage during the first three years: The development stage for the period till 12/31/99 shall include the work on developing the field infrastructure and installing equipment necessary for processing and transfer of crude oil produced from the 4 worked-over and 8 drilled wells. The total of financial commitments stipulated in Clauses 8.2.1 and 8.2.2 shall be: Before 12/31/1997 - $10,000,000 Before 12/31/1998 - $34,500,000 Before 12/31/1999 - $12,000,000 Minister D. T. Duisenov (signed and stamped) The amendments to the license conditions are accepted: Licensee - Karakudukmunay Inc. General Director - N. D. Klinchev - --------------------------------------------------------------------------------