Chaparral Resources, Inc. completed the sale of 1,612,903 shares of the Company's common stock for $3.0 million to Capco Resources Ltd., a Canadian corporation. After the sale, Capco beneficially owns 14.28 percent of the Company's outstanding common stock.
Chaparral Resources, Inc. is an international oil and gas exploration and production company. The Company participates in the development of the Karakuduk Field through KKM of which the Company is the operator.
The Company owns a 50 percent beneficial ownership interest in KKM with the other 50 percent ownership interest being held by Kazakh companies, including KazakhOil, the government- owned oil company
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