CBM Oil plc is a private company founded in 2004 by highly experienced oil and gas professionals to acquire and develop interests in the Caspian, the Black Sea and the Mediterranean, with a focus on projects in the Commonwealth of Independent States.

The Company is currently negotiating with the State Oil Company of the Azerbaijan Republic (SOCAR) to put together four near-shore prospects under a Production Sharing Agreement (PSA): Alat-Deniz, Karadag-Deniz, Gum-Deniz and Turkyan-Deniz.

In addition, the Company has identified areas offshore the Ukraine that have the potential for large oil and gas discoveries. A Joint Operating Agreement for the Gordievicha exploration prospect has been negotiated and concluded with the state oil company, Chornomornaftogaz, which is responsible for exploration in the Black Sea, and now awaits ratification by the Ministry of Fuel and Energy and Chornomornaftogaz's parent company, Naftogaz of Ukraine.

It is the intention of the Directors to take the company to AIM once one or more of these agreements are finalised.

This article explains where CBM are now, click HERE

THE WEBSITE IS WWW.CBMOIL.COM