Central Asian Sells Hurricane Hydrocarbons Shares

On December 18, 2002, a secondary public offering of class A common shares of Hurricane Hydrocarbons Ltd., was completed for aggregate gross proceeds of approximately $122 million. CIBC World Markets Inc. and BMO Nesbitt Burns Inc. were the underwriters. Central Asian Industrial Holdings NV sold 8.8 million common shares, at $13.85 per share. Hurricane is an integrated international energy company headquartered in Windsor, U.K.

The sale included an underwriters over-allotment option to purchase 800,000 common shares, which was exercised in full prior to closing. The offering was made by way of a short-form PREP prospectus filed in Canada and a registration statement on Form F-10 filed in the U.S., under the multijurisdictional disclosure system.

Central Asian Industrial Holdings was represented in Canada by Fraser Milner Casgrain LLP, with a team that included Jeffery Barnes, William Fung and Joshua Yarmus (securities) and Patrick Boyle (tax), and in the U.S., by Kevin Keogh and Martin Glass of White & Case LLP in New York.

Hurricane was represented in-house by Tony Peart, senior vice-president, general counsel and secretary; in Canada, by Davies Ward Phillips & Vineberg LLP with a team including Tom Smee, Jim Reid, Brett Seifred and Emer Kelly (securities) and John Zinn and Jonathan Tennant (tax); and in the U.S., by Paul, Weiss, Rifkind, Wharton & Garrison in New York with a team including Ted Maynard, Sajid Ajmeri, Gustavo Pauta and Vance Woodward (securities) and David Sicular and Paul Seraganian (tax).

Macleod Dixon LLP was Canadian counsel to the underwriters, with a team including Kevin Johnson, Tad Gruchalla-Wesierski, Justin Ferrara, Neville Jugnauth and Marcus Archerand in Canada, and Maxim Telemtayev in Almaty, Kazakhstan. Skadden, Arps, Slate, Meagher & Flom LLP in Toronto acted as U.S. counsel to the underwriters, with a team including Christopher Morgan, Jason Saltzman and Sally Whitehead.

Lawyer(s)

David R. Sicular Jeff Barnes Justin E. Ferrara Edwin S. Maynard William Fung Tad Gruchalla-Wesierski Paul Seraganian Neville Jugnauth Brett Seifred Marcus W. Archer Martin C. Glass Jonathan Tennant Thomas A. Smee Gustavo Pauta Kevin Keogh Kevin E. Johnson Jason M. Saltzman Joshua S. Yarmus James R. Reid John Zinn Sajid Ajmeri Vance A. Woodward Emer Kelly Christopher W. Morgan

Firm(s)

Dentons Canada LLP White & Case LLP Davies Ward Phillips & Vineberg LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Norton Rose Fulbright LLP Norton Rose Fulbright Canada LLP Norton Rose Fulbright LLP Skadden, Arps, Slate, Meagher & Flom LLP