Kazakh crisis takes Tristan Oil to brink of default.

The article reports on the announcement by Anatolie Stati, chief executive of Moldovian-based oil firm Tristan Oil, that it cannot pay bondholders their coupons due on July 1, 2010 because of the interference of the Kazakh government in its operations. Kazakhtan's Ministry of Oil and Gas has notified Tristan's companies Kazpolmunay and Tolkynneftegaz that their mineral rights in Kazakh oil fields are already canceled. Possible negotiations between the Kazakh government and bondholders are also discussed.