NOSTRUM OIL & GAS PLC announces operational results of fourth quarter and twelve months ending December 31, 2018

29.01.19, 17:39
/KASE, January 29, 2019/ – NOSTRUM OIL & GAS PLC (London), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of January 29, 2019: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its operational update in respect of the twelve-month period ending 31 December 2018. This update is being issued in advance of the release of Nostrum’s consolidated accounts for the same period. The information contained in this update remains subject to review by the Company's independent auditors. Highlights: Operational - FY 2018 average production of 31,254 boepd and sales volumes of 29,516 boepd - Average January 2019 production of 32,963 boepd - Mechanical completion of GTU3 achieved in December 2018 Financial - FY 2018 revenues expected to be in excess of US$389 million (FY 2017: US$405 million) - FY 2018 cash position in excess of US$121 million (9M 2018: US$95 million) - Total debt expected not to exceed US$1,130 million and net debt expected not to exceed approximately US$1,009 million as at 31 December 2018. unquote The full press release is available on KASE website: http://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_290119_en.pdf [2019-01-29]