Results of Mangistaumunaigas OJSC (Kazakhstan) in I half of 2001

/KASE, Sept 24, 01/ - Mangistaumunaigas OJSC (Aktau) provided the KASE with its financial statements for the I half of 2001: balance sheet and income statement. By the data of the issuer following are the results of the company in the I half of 2001 (in th. KZT): ------------------------------------------------------------------------- As of As of Change, Ratio July 1 '00 July 1 '01 % ---------------------------------------- ---------- ---------- ------- Authorized capital (paid) 10,894,602 10,894,602 0 Authorized capital (less treasury stock) 10,894,602 10,892,027 -0.02 Shareholders' equity 23,580,601 30,158,262 +27.9 Total assets 62,630,571 92,995,720 +48.5 Net working capital -792,624 -2,160,733 -172.6 Accounts receivable (net) 26,524,349 38,958,151 +46.9 Liabilities 39,049,970 62,837,458 +60.9 Accounts payable 35,284,702 48,681,829 +38.0 Sales 43,508,486 56,518,391 +29.9 Cost of goods sold 16,658,005 27,618,981 +65.8 Net income 1,387,554 6,017,209 +333.7 Book value of a share, KZT 2,164.43 2,769.49 +28.0 ------------------------------------------------------------------------- Compared to I half of 2000 growth took place in: - shareholders' equity of the company - by KZT6.6 bn as a result of an increase in final amount of undistributed income by KZT7.3 bn, reserve capital - by KZT615.7m, with a decrease in additional unpaid capital (re- evaluation of fixed assets) - by KZT1.3 bn; - assets - by KZT30.6 bn, of which KZT12.4 bn is accounts receivable, KZT6.8 bn - residual value of fixed assets, and KZT3.7 bn - net value of inventory; - liabilities - by KZT23.8 bn, including, KZT13.4 bn of accounts payable, KZT8.6 bn - created reserves (on liquidation of oil and gas equipment and rehabilitation of soil, as well as possible fines); - sales - by KZT13.0 bn; - cost of goods sold - by KZT11.0 bn. Expenses of the period decreased by KZT4.2 bn, or 19.7% relative to similar period of last year, including, sales expenses - by KZT3.1 bn, or 27.4%, general and administrative expenses - by KZT1.1 bn, or 10.9%. Reserves on liquidation of oil and gas equipment and rehabilitation of soil was formed at KZT5.3 bn as of July 1, 2001, against KZT2.8 bn on similar date in 2000. Net income of the company in I half of 2001 equaled KZT6.0 bn, which is KZT4.6 bn, or 4.3 times more than in similar period of last year. Primary activities of the company: exploration and transportation of gas; oil processing, sales of oil and oil products; exploitation and development of oil and gas fields. Now, official list of the Exchange has common inscribed (KZ1C05020218, trade code - MMGZ) and preferred inscribed (KZ1C05020218, trade code - MMGZ) shares of Mangistaumunaigas OJSC under category "B".