OREANDA-NEWS. In their emergency meeting in London Chaparral Resources Inc. shareholders approved merger with Lukoil Overseas by a majority vote. Their decision came into effect the same day.

After the completion of the transaction, Chaparral Resources stock will cease to be traded on equities markets and the company will become a 100% subsidiary of Lukoil Overseas.

As of December 2005, Lukoil Overseas owned 60% of Chaparral Resources shares bought as part of other assets of Nelson Resources Limited. The remainder of Chaparral Resources shares is owned by a large number of petty shareholders and circulate on US markets. Each share costs $5.8.

At present, Chaparral Resources and Lukoil Overseas are co-owners of Kazakhstan’s KarakudukMunaj closed JSC, which extracts oil at the Karakuduk field. Lukoil Overseas indirectly owns 76% of KarakudukMunaj’s stock.