Geo Point to acquire Kazakhstan oil refinery

May 10. Deseret News

Geo Point to acquire Kazakhstan oil refineryGeo Point Technologies Inc. said Monday it has agreed to acquire an oil refinery in Kazakhstan and change the company’s business model to become an oil refiner.

Geo Point has entered into a share exchange agreement with GSM Oil Holdings Ltd., a limited liability company organized in Cyprus, and Summit Trustees PLLC, a Utah professional limited liability company, to acquire all of the issued and outstanding stock of GSM Oil Holdings.

GSM is in the process of acquiring Sinur Oil LLP through its wholly owned Dutch subsidiary, GSM Oil BV. Sinur Oil is a development-stage oil refining company with operations in southern Kazakhstan and recently has completed its initial “micro” oil refinery.