/KASE, July 1, 2023/ – Zhaikmunai LLP (Uralsk), wit its bonds officially listed
on the Kazakhstan Stock Exchange (KASE), provided the KASE with a press release
dated June 30, 2023, stating the following:
beginning of quote
Zhaikmunai LLP, a subsidiary of Nostrum Oil & Gas PLC (“Nostrum” or “the
Company” and together with its subsidiaries “the Group”), an independent oil and
gas company engaging in the production, development and exploration of oil and
gas in the pre-Caspian Basin, today announces Nostrum’s financial results in
respect of the three months ended 31 March 2023.
Q1 2023 Highlights:
Financial
- Revenues of the Group in Q1 2023 totaled USD 17.4 mln (Q1 2022: USD 60.2
mln). Although revenues decreased in Q1 2023, the management expects H1
and FY sales and revenues to remain in line with targets and expectations.
Decrease in revenues resulting from declining production and relatively lower
average product prices was in line with management expectations, while
temporary oil inventory build-up of 254,000 boe (or equivalent of 2,822 boepd)
due to transition to new offtake agreements and delivery destinations was
realised in Q2 2023 and relevant revenues of approximately USD 15 mln
recognised in that period.
- EBITDA* in Q1 2023 made USD 4.6 mln (Q1 2022: USD 40.5 mln) with
EBITDA* margin of 26.4% (Q1 2022: 67.3%). Both EBITDA and EBITDA
margin have been affected by the temporary oil inventory build-up mentioned
above and the relevant H1 figures are expected to recover accordingly.
- Unrestricted cash position as at 31 March 2023 was USD 191.8 mln (31
December 2022: USD 233.6 mln), excluding restricted cash of USD 22.6 mln as
at 31 March 2023 (31 December 2022: USD 31.0 mln).
- The Group continues to focus on cost optimisation to help manage liquidity.
end of quote
Full press release is available at:
-
https://kase.kz/files/emitters/ZHMN/zhmn_relizs_300623.pdf – in the Russian
language;
-
https://kase.kz/files/emitters/ZHMN/zhmn_reliz_300623_en.pdf – in the
English language.
[2023-07-01]