/KASE, April 24, 07/ - Exploration Production KaMunayGas JSC (Astana),
stock of which are trded in Kazakhstan stock exchange's (KASE) official "А"
listing category, today spread press release, which says.
Quotation start
Exploration Production KaMunayGas JSC (EP KMG JSC, Company) announced
about closing of deal on acquisition of 50% share of JV Kazgermunay LLP
(Kazgermunay) from NC KazMunayGas JSC (NC KMG). After company
Kazgermunay has distributed dividends, the amount, paid for 50% share in this
company, was reduced and totaled KZT118.3 bn.
Acquisition was approved by the Board of directors, including all independent
directors, as well as the majority of minority investors, who has taken part in
the general meeting of stockholders on April of current year. All other
formalities has also been completed.
EP KMG also informed that NC KMG repaid the debt in the amount of USD800
m., borrowed from EP KMG in July 2006.
Reference:
Exploration Production KazMunayGas JSC, with the central office in Astana, is
the third oil mining company in the Republic of Kazakhstan according to the
annual volume of oil production, which in year 2006 totaled 9.5 m. ton (192 th.
barrels per diem). The company works on 44 oil and gas fields, located in Atyrau
and Mangistau regions in the west of Kazakhstan. In these regions the Company
conducts exploration works as well. Company's stocks passed the listing on
Kazakhstan stock exchange, and global depository receipts - on London stock
exchange. IN the course of IPO in September of 2006 the Company borrowed
about USD2 bn.
NC KMG presents interest of state in oil and gas industry of Kazakhstan and
through its daughter companies participates in different aspects of oil and gas
business, from exploration and production to transportation, processing, sale and
rendering services. NC KMG owns approximately 61% of common stocks of EP
KMG.
Kazgermunay is the eighth oil company of Kazakhstan according to production
volumes. Proven and potential reserves of Kazgermunay as of end of September
2006 total approximately 40.7 m. ton (310 m. barrels), production in 2006 - about
3 m. ton (60 th. barrels per diem). On March 5, 2007 EP KMG announced about
an agreement to acquire 50% share in Kazgermunay from NC KMG for KZT133.3
bn. with possible corrections. The second participant of Kazgermunay is the
company PetroKazakhstan Kumkol Resources.
Contact information:
EP KMG JSC, Public relations (+7 3172 977908, +7 3172 977924)
Lyazzat Kokkozova
e-mail: pr@kmgep.kz
EP KMG JSC, Relations with institutional investors (+7 3172 975433)
Alexander Gladyshev
e-mail: ir@kmgep.kz
WMC Communications Ltd (+44 207 930 9030)
Elena Dobson
e-mail: Elena.dobson@wmccommunications.com
Quotation end
The full version of the press release of Exploration Production KazMunayGas
JSC is available at
http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_50_270407.pdf
[2007-04-27]