Results of activity of Mangistaumunaigas JSC (Kazakhstan) in Q1, 2005

/IRBIS, Galina Tsalyuk, October 21, 05/ - Mangistaumunaigas JSC (Aktau), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with consolidated financial statement for the I quarter of 2005. Following indicators are result of the company's financial and economic activity in the I quarter of 2005, based upon its data (th. KZT, unless otherwise specified): -------------------------------------------------------------- As of As of Indicator Apr 1, 04 Apr 1, 05 Change,% -------------------------- ----------- ----------- -------- Authorized capital (paid excluding withdrawn) 10,892,027 10,892,027 0.0 Shareholders' equity 68,273,213 142,727,869 +109.1 Total assets 145,185,053 236,447,669 +62.9 Net working capital 20,914,249 44,781,818 +114.1 Accounts receivable (net) 38,927,258 61,925,260 +59.1 Total liabilities 72,459,026 90,533,842 +24.9 Accounts payable 60,890,152 76,637,363 +25.9 Sales volume 46,212,129 71,277,150 +54.2 Cost of goods sold 24,270,428 43,298,563 +78.4 Net income for the period 9,372,002 16,122,217 +72.0 Book value of 1 share, KZT 6,268.18 13,103.88 +109.1 -------------------------------------------------------------- Relative to the I quarter of 2004 there is growth of: - shareholders' equity - by KZT74.5 bn. as the result of growth of total amount of undistributed income by 75.0 bn., whereas additional unpaid capital fell by 524.7 m.; - assets - by KZT91.3 bn., including: residual value of fixed assets (including construction in process) - by 52.7 bn., accounts receivable (net) - by 23.0 bn., funds - by 13.7 bn. and other assets - by 1.9 bn.; - liabilities - by KZT18.1 bn., because of growth of accounts payable by 16.4 bn., land regeneration reserves - by 1.7 bn. and deferred taxes - by 1.3 bn., that was partially covered by falling of reserves formed on liabilities by 1.2 bn.; - sales volume - by KZT25.1 bn.; - cost of goods sold - by KZT19.0 bn. Net income the Company earned in the I quarter of 2005 exceeded its net income of similar period of 2004 by KZT6.8 bn. Company's primary activities: oil and gas production and transportation; oil refining, sale of oil and products of its refining; exploration and development of oil and gas fields. [2005-10-21]