Further Drawdown Request and Financial Position

 

TIDMTMAN 
 
RNS Number : 8918O 
Timan Oil & Gas Plc 
16 March 2009 
 

 
 
Timan Oil & Gas plc ("Timan" or the "Company") 
 
 
Further Drawdown Request and Financial Position 
 
 
Following a delay to the receipt of funds anticipated on 13 March 2009 after 
service of a drawdown request on Kamanisk Holdings Limited ("Kamanisk") for a 
further $7.5 million of the loan facility previously agreed with Kamanisk on  29 
September 2008, Timan has been informed by Kamanisk that $300,000 of the funds 
will be available to Timan within the next three business days to provide 
sufficient liquidity for the company's short term trading requirements, with the 
remainder by the end of March 2009. 
 
 
As Timan has spent almost all the funds previously provided to the Company by 
Kamanisk, it is dependent on delivery of further funds from Kamanisk in order to 
continue to trade.  Kamanisk informed the board of Timan on 13 March 2009 that 
it will be delivering $300,000 of the requested funds under the drawdown within 
the next three business days which the Board believes will provide sufficient 
working capital for the Company for another calendar month with the remainder of 
the drawdown to follow by the end of March 2009. 
 
 
Further announcements will be made in due course. 
 
 
Enquiries 
Timan Oil & Gas plc 
Alexander Kapalin, Chief Executive Officer 
Zhakyp Marabayev, Chairman 
[phone] 
 
 
Strand Partners Limited 
Rory Murphy/Simon Raggett 
+ 44 (0) 20 7409 3494 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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