The Kazakhstan-focused player’s subsidiary Aral Petroleum Capital has been battling creditors and earlier this year saw its parent shut in production at the East Zhagabulak oilfield.
Calgary-based Caspian said the only currently committed source of funds available to both it and Aral is a US$10 million loan from Caspian’s principal shareholder, The Sixth Energy – with only about US$1.5 million remaining.
Aral
