Zhaikmunai says NOSTRUM OIL & GAS PLC (United Kingdom) concluded agreement on purchasing 50% stake in Positive Invest

24.06.19, 15:33
/KASE, June 24, 2019/ – Zhaikmunai (Uralsk), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE as follows: quote Zhaikmunai, a subsidiary of Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company", and together with its subsidiaries "the Group"), an independent oil and gas company engaged in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces that Nostrum has agreed, subject to certain conditions, to acquire 50% of Positive Invest LLP ("Positive Invest"), which holds the subsoil use rights to the Stepnoy Leopard licences in North Western Kazakhstan, for US$500,000. Nostrum has the right to buy the remaining 50%, subject to the satisfaction of certain additional conditions, at a price of US$0.27 cent per boe of proven and probable reserves. The acquisition of 100% of Positive Invest is referred to in this announcement as the "Proposed Acquisition". unquote The full version is available (in Russian) at – http://kase.kz/files/emitters/ZHMN/zhmn_reliz_240619_1.pdf [2019-06-24]