/KASE, January 23, 2020/ – NOSTRUM OIL & GAS PLC (London), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided the KASE with
press release dated January 22, 2020, which states as follows:
quote
Nostrum Oil & Gas PLC (LSE: NOG) (“Nostrum”, or “the Company”), an independent
oil and gas company engaging in the production, development and processing of oil
and gas in the pre-Caspian Basin, today provides an update on its strategic review
process and outlook for 2020.
Nostrum continues to work on the Strategic Review announced on 24 June 2019. The
Company continues to work with Goldman Sachs on the Formal Sales Process; however,
to-date the Company has not received any binding offer for the Company or its
assets. As part of the Strategic Review, the Company undertook a comprehensive
analysis of its operational and financial performance. The result of the analysis
is that the Company will now change its focus to (i) commercialising the spare
capacity in its world-class gas processing infrastructure; (ii) lower-risk
reservoir management and (iii) re-organising to a lower cost base.
unquote
Full version of the press release is posted on the KASE website:
-
http://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_220120_1.pdf – in Russian;
-
http://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_220120_en.pdf – in English.
[2020-01-23]