/KASE, May 5, 2022/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press release dated May 5, 2022:
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 full year financial
results for the twelve months ending 31 December 2021, together with the
publication of the 2021 Annual Report for Nostrum and its subsidiaries taken as
a whole ("the Group").
Nostrum's management team will present the FY 2021 Results and will be available
for a Q&A session with analysts and investors today at 2pm UK time, 5 May 2022.
If you would like to participate in this call, please register by clicking on
the following link and following instructions: conference call on the reporting
period results
https://protect-eu.mimecast.com/s/yWlQCKrRYtD3V2VFM_HK7?domain=emea.directeventreg.com
2021 Highlights:
Operational
- Daily production after treatment for 2021 averaged 17,032 boepd (2020: 22,337
boepd), exceeding our production guidance of 17,000.
- Daily sales volumes for 2021 averaged 15,330 boepd (2020: 21,514 boepd). This
compares to sales volume guidance of 16,000, however, condensate inventory as
at year-end totalled approximately 268,000 boe which was sold in early 2022.
- Total Proven plus Probable ("2P") reserves of 34.3 million barrels of oil
equivalent ("mmboe") and Proven plus Probable and Possible ("3P") reserves of
44.0 mmboe, based on the annual reserves audit conducted by Ryder Scott. This
represents a 2P reserves replacement ratio of 25%.
- The Group executed its well and reservoir management strategy through well
workovers and rigless well intervention. The programme proves to be
non-capital intensive and offers reasonable risk/reward. This programme
continues in 2022 in the absence of an approved drilling campaign which has
been on hold since 2020.
- We continue to focus on ways to monetise spare capacity in the gas treatment
facility through processing third party volumes. The Group has approved minor
investment to upgrade its facilities and build a short pipeline to receive
Ural Oil & Gas LLP ("Ural OG") feedstock still planned by Q4 2023.
- We note that recent geopolitical events, including the unrest in Kazakhstan at
the beginning of 2022 and the ongoing Russia-Ukraine conflict, have had no
operational impact to our business to date. The Directors are cognisant of the
current and evolving sanctions list against Russian individuals and entities
and have ensured the Group has conducted ongoing operations in compliance
with these sanctions.
- The Group continues to protect the safety of all staff and contractors in
light of COVID-19 and mitigate any impact on operations. To date, no
production has been lost because of COVID-19.
unquote
the full press release is available on:
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_050522.pdf – in
Russian;
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_050522_en.pdf – in
English.
[2022-05-05]