/IRBIS, Nov 15, 01/ - REUTERS informs that Canadian oil company Hurricane Hydrocarbons Ltd. (HHL), which owns several fields and controls oil refinery in Kazakhstan, plans to float its shares and bonds on domestic market next year.

It will be done probably through the Exchange, said PR manager of the company.

It is said that HHL shares are traded at Toronto and Frankfurt stock markets.

She said that company had made a strategic decision since it is working in Kazakhstan and the market.

It is said that the company supplies oil products in Kazakhstan and already has shareholders in Kazakhstan.

She expressed her satisfaction on the work of the Exchange.

Government official said that cabinet of ministers of Kazakhstan passed the draft laws to the parliament on the development of the stock market and the protection of investors' interests.

HHL is said to have two subsidiaries in Kazakhstan which are oil producing Hurricane Kumkol Munai OJSC and SHNOS OJSC that processes about 47% of oil products in Kazakhstan.

It is the average sized company, HHL has 50% stakes in Turgai petroleum JV and Kazgermunai and 90% stake in railroad terminal at Drujba station on the border of China.

HURRICANE SEEKS NEW OIL ROUTES FROM KAZAKHSTAN

It is expected that by 2005 the company will increase its production up to 10m tons a year, with current year's expectations at 6m tons vs. 5.183m in 2000. Therefore the company is looking for new oil transportation routes in Kazakhstan.

Only a fraction of oil is exported through China, with the most of oil shipped to Aktau (Caspian sea), Fedosya, Batumi and Novorossiisk (Black sea) ports, is said.

The company considers South-East Asian countries perspective markets, though its shipments to China are not big.

This year HHL bought 5% stake in CPC from British Petroleum, thus allowing it to transport up to 3m tons through this system.

Estimated oil reserves of HHL owned fields are 523m barrels, based on independent experts.