Exhibit 10.25

DECREE OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKSTAN

NO1392, Dated: December 31, 1998


About  licensing  for  right of  subsurface  resources  user,  redrawing  up and
alteration of license,  withdraw of licenses for eight of  subsurface  resources
user.

In  accordance  with  articles  14, 23, 40 and 70 of the  Republic of  Kazakstan
Presidents Decree # 2828 "About  subsurface  resources and its use", which is in
legal force from January 27, 1996, (Journal of the Parliament of the Republic of
Kazakstan  #2,1996,  article  182) the  Government  of the Republic of Kazakstan
enacts : 

1.   To license the  enterprises  for  prospecting  and producing of thermal and
     mineral subsurface waters and medical mud according to attachment #1

2.   To license the  enterprises  for  prospecting  and producing of hydrocarbon
     stocks and solid minerals according to attachment #2.

3.   To make  alteration  in license  for right of use of  subsurface  recourses
     according to attachment #3.

4. To reregister  the licenses for right of use of  subsurface  resources to new
   subsurface  resources  users in  connection  with its  transfer  according to
   attachment #4.

5.   To withdraw the previous licenses for right of use of subsurface  resources
     in  connection  with  breaches of the license  terms and  call-back  of the
     licenses by subsurface resources user according to attachment 5.

6.   To the State Commmittee of the Republic of Kazakstan on investments to take
     necessary measures ensuing from the Present Decree.

7.   The decree will come into force from the moment of its signing



Prime Minister of
the Republic of Kazakstan                    /s/      N. Balgimbaev.



<PAGE>
<TABLE>
<CAPTION>

                                                           LIST
                          of licenses for right of subsurface resources user with alternations

------------------------------------------------------------------------------------------------------------------------------------
           License           Subsurface                                                    Alterations
      (series, No date)      resources
                                user
                                       ---------------------------------------------------------------------------------------------
No                                       Relevant   Contract     Name of the     Prolongation of  Alteration of   Alteration   Other
                                        authority  conclusion    subsurface        the term of       minimum          of
                                                                 resources user    license, new       program      geological
                                                                                      types of                        branch
                                                                                     subsurface

                                                                                    resources use
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>                <C>             <C>        <C>        <C>              <C>               <C>               <C>         <C>
1     2                  3               4          5          6                7                 8                 9           10
------------------------------------------------------------------------------------------------------------------------------------
22    Series MG #249     KKM JV                                                                   Minimum work
      from 06/28/95                                                                               program. Until
                                                                                                  12/31/98
                                                                                                  $16,500,000;
                                                                                                  Until 12/31/99
                                                                                                  $30,000,000

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>