has released further information about Caspi Neft. Caspi Neft is currently generating revenue and the estimated cash inflow of approximately US$180.9 million (approximately $1.411 billion) will be contributed by the sale of oil from the oilfield within two years. It is expected that for the coming two years, the working capital for the daily operation of Caspi Neft will be financed by internal resources of Caspi Neft.
The estimated cash outflow of the capital expenditure of Caspi Neft within two years will be US$95.8 million (approximately $747.2 million), which will be financed by internal resources of Caspi Neft and of Kowloon Development.
According to the technical report produced by Miller and Lents, Ltd., the oilfield has 27 wells, of which 12 are currently producing and has total proved reserves, possible reserves and contingent resources of approximately 13.313 million barrels, 31.692 million barrels and 16.23 million barrels of oil respectively.
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