Exhibit 10.25
DECREE OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKSTAN
NO1392, Dated: December 31, 1998
About licensing for right of subsurface resources user, redrawing up and
alteration of license, withdraw of licenses for eight of subsurface resources
user.
In accordance with articles 14, 23, 40 and 70 of the Republic of Kazakstan
Presidents Decree # 2828 "About subsurface resources and its use", which is in
legal force from January 27, 1996, (Journal of the Parliament of the Republic of
Kazakstan #2,1996, article 182) the Government of the Republic of Kazakstan
enacts :
1. To license the enterprises for prospecting and producing of thermal and
mineral subsurface waters and medical mud according to attachment #1
2. To license the enterprises for prospecting and producing of hydrocarbon
stocks and solid minerals according to attachment #2.
3. To make alteration in license for right of use of subsurface recourses
according to attachment #3.
4. To reregister the licenses for right of use of subsurface resources to new
subsurface resources users in connection with its transfer according to
attachment #4.
5. To withdraw the previous licenses for right of use of subsurface resources
in connection with breaches of the license terms and call-back of the
licenses by subsurface resources user according to attachment 5.
6. To the State Commmittee of the Republic of Kazakstan on investments to take
necessary measures ensuing from the Present Decree.
7. The decree will come into force from the moment of its signing
Prime Minister of
the Republic of Kazakstan /s/ N. Balgimbaev.
LIST
of licenses for right of subsurface resources user with alternations
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License Subsurface Alterations
(series, No date) resources
user
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No Relevant Contract Name of the Prolongation of Alteration of Alteration Other
authority conclusion subsurface the term of minimum of
resources user license, new program geological
types of branch
subsurface
resources use
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1 2 3 4 5 6 7 8 9 10
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22 Series MG #249 KKM JV Minimum work
from 06/28/95 program. Until
12/31/98
$16,500,000;
Until 12/31/99
$30,000,000
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