Primary Control
~600 m
Borki Synsedimentary Fault Throw
Marker-horizon correlation indicates the fault works as both migration pathway and effective seal.
Last Commercial Opportunity in the Naryn Monocline
BORKI
OIL
FIELD
State-certified and development-licensed asset in the Kyrgyz Fergana Basin — a province in continuous production since the 1880s. GKZ-certified recoverable reserves of 1.70 Mt on Horizon V set the proven floor. Above that floor, prospective resources across six horizons and two independent closures are assessed at about 205 Mt (~1.50 billion barrels), subject to appraisal.
1.7M
tonnes GKZ C1+C2
Horizon V only
205
Mt Prospective
~1.50 billion barrels
152.87
km² Licence Area
Development licence footprint
~30° API
Sweet Crude
Sulfur 0.35% · 2 independent labs
BORKI BLOCK · JALAL-ABAD OBLAST
▬ Development licence boundary (152.87 km²)
◆ Well Nw-1 (3,476 m TD)
◆ Well Nw-1 (3,476 m TD)
The Geological Thesis
Geological Story: The 600m Fault That Changes Everything
The key geological variable at Borki is the Borki Synsedimentary Fault. It forms the nose trap and provides effective sealing: Borki-1 is dry outside the fault, while Nw-1 flows oil inside the fault. The 3.5 km well pair is direct, independent proof of fault control and trap integrity.
Borki Field top-structure contour map (Nw-1 / Borki-1 wells and the Borki Synsedimentary Fault)
Well Pair
~3.5 km
Distance between Nw-1 and Borki-1
Short-distance contrast on the same structural trend creates a rare, high-confidence validation pair.
Observed Contrast
Oil Flow vs Dry
Nw-1 (inside fault) vs Borki-1 (outside fault)
Opposite outcomes pinpoint the favourable nose position and confirm seal integrity.
Well Comparison Matrix
| Metric | Nw-1 (Discovery) | Borki-1 (Control) |
|---|---|---|
| Operator | PetroX's first exploration well, on the nose structure west of Borki-1 | Drilled 2009 by Kyrgyzstan's national oil company |
| Depth | TD 3,476 m | TD 3,421 m |
| Result | Oil and gas shows across Paleogene Horizons III/V/VII/IX; log-interpreted oil pay; fractured carbonate reservoir; source-reservoir-seal all developed | No oil or gas shows |
| Structural Position | Favourable position on the nose structure | Unfavourable position on the nose structure |
Basin Context
NEARBY
PRODUCING FIELDS
Basin Position
Northeast Fergana Basin — Central Asia's most prolific proven petroleum province, producing since the 1880s
Nearby Producing Fields
Maylisay (producing since 1901) · Maili-Su III/IV · Izbaskent — same structural trend around Borki.
Analog Performance Signal
Maili-Su IV has produced more than 42 million barrels, supporting commercial potential of this fairway.
Why Borki Matters Now
Borki is framed as the last undrilled fault-block structure on the Naryn monocline trend, with direct producing analogues surrounding it.
Reserves & Resources
Reserves and Resources: A Floor, Not a Ceiling
On 7 April 2026, GKZ Protocol No. 2195 formally approved Borki reserves. Certification currently covers Horizon V only, one horizon out of six identified pay horizons.
| Category | Geological (kt) | Recoverable (kt) | Recovery Factor | Status |
|---|---|---|---|---|
| C1 (Proven) | 1,113.58 | 243.87 | 21.9% | Certified |
| C2 (Probable) | 6,650.52 | 1,456.46 | 21.9% | Certified |
| C1 + C2 | 7,764.10 | 1,700.33 | — | GKZ Protocol No. 2195 |
Why the Certified Floor Is Conservative
GKZ certification covers Horizon V only and applies a conservative effective thickness of 6.6 m. Nw-1 logs interpret 38 m of pay, and the development-scenario thickness is about 28 m — roughly 4.2x the certified basis. The certified 1.70 Mt should therefore be read as a floor pending further appraisal.
Prospective Resources
Full-asset prospective resources across two independent closures and six horizons, assessed by confidence tiers under SPE-PRMS.
| Confidence Tier | Horizon | Unrisked (Mt) | Risked (Mt) | Confidence Factor | Evidence Base |
|---|---|---|---|---|---|
| Tier 1 · Drilled & Certified | Horizon V (West) | ~35 | ~35 | 1.00 | Nw-1 flow test + GKZ certified |
| Tier 2 · High Confidence | Horizon V (East) | ~54 | ~46 | 0.80-0.90 | Structural analogue to West; undrilled |
| Tier 2 · High Confidence | Horizon VII | ~18 | ~14 | 0.75-0.80 | Fluorescence + logs + regional analogue |
| Tier 3 · Moderate Confidence | Horizon IX | ~19 | ~11 | 0.55-0.60 | Fluorescence + logs (zero gas test) |
| Tier 4 · Prospective | Horizons III / IV / X | ~77 | ~24 | 0.18-0.40 | Oil stain + regional analogue |
Unrisked
~205 Mt
Unrisked geological resources
Risked
~130 Mt
Risked resources
Recoverable
~28 Mt
Risked x 21.9% RF recoverable
Certified Floor
1.70 Mt
GKZ-certified recoverable floor
Eastern Closure · Largest Upside
The eastern closure is about 43 km², about 2.15x the western closure, and undrilled. It was independently identified by the same 2019 seismic study validated by Nw-1. A single appraisal well could upgrade about 125 Mt of prospective resources into reserves.
Legal Protections
License Security and Investment Protection
The project benefits from at least two layers of legal protection: statutory license extension rights under Subsoil Law No. 49, and investor safeguards under Investment Law No. 198.
License Extension
Development License No. 7891 HE (to 14 April 2046)
If commercial production continues and the licensee remains compliant at expiry, the mining right may be extended until the economic depletion of the resource.
Kyrgyz Republic Law No. 49 "On Subsoil" (2018, amended 2022), Chapter 6.
Investment Protection Framework
Kyrgyz Republic Law No. 198 "On Investments" (promulgated 12 Aug 2025, amended Apr 2026) is the current primary law for foreign investment and applies directly to Borki project investors.
Free Transfer of Funds
Article 13Profits, dividends, and sale proceeds may be freely repatriated in convertible currencies (USD, RMB, etc.).
International Arbitration
Article 23Disputes may be submitted to international arbitration (including ICSID), outside domestic courts.
Investment Agreement
Articles 31-32Investors committing >= USD 10 million may sign a binding investment agreement with the Cabinet of Ministers.
Tax Stabilisation
Article 3Projects injecting >= KGS 1 billion within 5 years may apply for a 10-year tax lock for key taxes.
National Treatment
Article 11Foreign investors enjoy equal legal standing and protection from discriminatory regulation.
Expropriation Protection
Articles 16-17Uncompensated expropriation is prohibited; any expropriation requires prompt fair-value compensation with interest.
Corporate Structure and Control
Offshore-onshore two-layer structure. Investors enter at the Hong Kong holding level for transfer flexibility, while the Kyrgyz operating entity retains all licence rights.
Holding
PetroX HK Limited
Investor entry and exit mainly occur at the Hong Kong holding layer.
Operating
OcOO PetroX Beta Limited
Kyrgyz operating entity holding Development Licence No. 7891 HE.
Control
100% Effective Control
Hong Kong law protection plus local operating compliance for transferability and execution efficiency.
Disclaimer: This content is for reference only and does not constitute an offer to sell or solicitation to invest. Resource estimates beyond GKZ-certified C1+C2 are prospective and subject to further appraisal. Investors should conduct independent due diligence and consult qualified legal and technical advisers.