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Gold/Mining/Energy : Petrokazakhstan Inc. -- Ignore unavailable to you. Want to Upgrade?

To: forecaster who wrote (1720)	7/20/2001 9:32:29 PM
From: Madeleine Harrison	Read Replies (1) \| Respond to of 2357

Friday July 20, 1:02 pm Eastern Time Press Release SOURCE: Hurricane Hydrocarbons Ltd. Hurricane Hydrocarbons Ltd. - Shareholders Approve Change Of Control Provision To Be Included In Senior Notes For The Special Dividend CALGARY, July 20 /PRNewswire/ - (Nasdaq: HHLF - news) Hurricane Hydrocarbons Ltd. announced that at its special meeting of shareholders held today the shareholders overwhelmingly approved the inclusion of the Change of Control Provision in the Senior Notes which will be issued by Hurricane to its shareholders of record on August 2, 2001. Of the shareholders who voted, over 98% voted in favour of the resolution. The Senior Notes will be issued by way of special dividend as previously declared by the Board of Directors of Hurricane on June 15, 2001. It is expected that the Board of Directors of Hurricane will fix the interest rate of the Senior Notes on Monday, July 23, 2001. Hurricane will issue a press release providing further details of the special dividend at that time. The Change of Control Provision in the Senior Notes will provide that upon a Change of Control each holder of the Senior Notes will have the right to require Hurricane to offer to purchase the Senior Notes at 101% of the principal amount thereof plus accrued and unpaid interest. Change of Control means (i) such time as a person has become the beneficial owner of 50% or more of the common shares of Hurricane, (ii) the transfer of all or substantially all of the assets of Hurricane and its restricted subsidiaries taken as a whole to any person has occurred, or (iii) following any period of two consecutive calendar years, individuals who at the beginning of such period constituted the board of directors of Hurricane ceased to constitute a majority of the directors of Hurricane then in office. As previously announced on June 15, 2001, Peters & Co. Limited presented to the Independent Committee of the Board of Directors of Hurricane its independent valuation of Hurricane common shares. The full text of the independent valuation is available on Hurricane's website at www.hurricane-hhl.com. Hurricane's shares trade on The Toronto Stock Exchange under the symbol HHL.A, in the United States on Nasdaq under the symbol HHLF and on the Frankfurt exchange under the symbol HHCA. The company's website can be accessed at www.hurricane-hhl.com. The Toronto Stock Exchange has neither approved nor disapproved the information contained herein. SOURCE: Hurricane Hydrocarbons Ltd