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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
BAISEITOV BAKHYTBEK R 291/21 DOSTYK AVE ALMATY, 1P 050020 |
X |
/s/ Bakhytbek Baiseitov | 07/06/2011 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Such beneficial ownership is through convertible debt directly held by the Reporting Person. The convertible debt was originally issued by the Issuer pursuant to a) a Facility Agreement between the Issuer and Altima Central Asia Master (Fund) Ltd. dated 20 June 2008, and b) a Facility Agreement between the Issuer and Great Circle Energy Services, LLC. dated September 3, 2008. The Facility Agreements have been acquired by the Reporting Person. Each Facility Agreement provides that the debt is convertible at a fixed price of $2.30 per share. |
(2) | The Great Circle Facility Agreement was assigned to the Reporting Person as of the transaction date. The number of shares underlying the Great Circle Facility Agreement was determined as of the transaction date and assumes the full amount of the outstanding balance of the loan would be converted. The number of shares issuable upon conversion will increase as interest continues to accrue pursuant to the Facility Agreement. |