HOUSTON, June 26 /PRNewswire-FirstCall/ -- Caspian International Oil Corporation (CIOC) (OTCBulletinBoard:CIOC) today announced it has retained COSCO Capital Management LLC as its financial advisor. CIOC operates an oil field in Western Kazakhstan and provides seismic surveys and other oil field services to the petroleum industry in Kazakhstan. As a leading expert in private capital and venture capital financing for the energy business, COSCO and its broker/dealer affiliate, Private Energy Securities, Inc. (member NASD/SIPC), will provide investment banking services and will assist CIOC in its efforts to raise capital for its operations and growth plans.
"We are very excited to work with COSCO's experienced energy group in anticipation of securing funding to execute CIOC's operations strategies, as well as our growth plans," said CIOC President and CEO James E. Knight. "We look forward to working with Cameron O. Smith and William E. Weidner, Managing Directors of COSCO, and their team in assessing CIOC's corporate value and identifying appropriate funding sources and structures. Our goals are to strengthen CIOC's financial position, develop our oil field which has proven reserves, expand our services and base of operations for our growing list of clients, and deliver long-term value to shareholders. The COSCO team brings expertise and knowledge in working with the energy industry and its financial backers, and they can play an important role in advancing our business plans."
"COSCO is very pleased to have the opportunity to serve CIOC," said COSCO Managing Director William E. Weidner. "We have helped other newly-formed energy companies like CIOC to foster sound and lasting relationships with the financial segment of the oil and gas industry. We believe we can help CIOC achieve its goals."
Headquartered in Houston, CIOC acquired its current operations in August 2006 with the merger of several Kazakhstan companies, principally Dank and Kor-Tazh. Dank and PGD Services (a subsidiary of Dank) provide oil field services, including 2-D and 3-D seismic acquisitions, data processing and interpretation, reservoir modeling and topography, to the petroleum industry in Kazakhstan and elsewhere in Central Asia. Kor-Tazh operates an oil field in Western Kazakhstan. CIOC's common stock is traded on the OTC Bulletin Board under the stock symbol "CIOC".
Based in New York with offices in Houston and Calgary, COSCO is one of the leading financial advisors and placement agents for energy companies in the U.S. and Canada. Through its affiliate, Private Energy Securities, Inc. (member NASD/SIPC), since 2000, alone, COSCO has arranged private placements of over $1 billion of equity and mezzanine debt, usually to energy focused closed-end funds. In December 2006, COSCO significantly expanded the services it can offer its energy clients by participating in the formation of Strategic Energy Research and Capital, LLC, which focuses on trading in, and financings for, public energy companies, as well as providing research and targeted investor relations services.
This news release may contain "forward-looking statements" about the business, financial performance and prospects of the company. Statements about the company's or management's plans, intentions, expectations, beliefs, estimates, predictions or similar expressions for the future are forward-looking statements. No assurance can be given that the outcomes of these forward-looking statements will be realized, and actual results could differ materially from those expressed as a result of various factors. A discussion of these factors, including risks and uncertainties that may frustrate management's plans, is set forth from time to time in the company's filings with the U.S. Securities and Exchange Commission.
Contacts: For CIOC: Carol Cox Carol Cox Communications Office: 713-932-7676 Cell: 713-249-4600 Email: firstname.lastname@example.org For COSCO: Bill Weidner, Managing Director COSCO Capital Management LLC 14 Station Street, 2nd Floor Simsbury CT 06070 Tel: 860-658-6700 Fax: 860-658-6704 Email: email@example.com
Source: Caspian International Oil Corporation