Zhaikmunai (Kazakhstan) announced Q1 2012 results

23.05.12 15:07
/KASE, May 23, 12/ - Zhaikmunai (Uralsk), bonds of which are officially listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following press release of May 23, 2012: quotation Zhaikmunai LP (LSE: ZKM), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan today communicates its financial results for the period from 1 January to 31 March 2012 in addition to providing an update on its operations. HIGHLIGHTS FROM A RECORD FIRST QUARTER Production: - More than five-fold YoY increase to 3,053,210 boe total - Average Q1 2012 daily production of 33,552 boepd - Average April 2012 daily production of 37,237 boepd Financial: - Close to four-fold YoY increase in EBITDA to US$110.9 million - Over four-fold YoY increase in Net Income to US$ 48.4 million - Over three-fold YoY increase in Revenue to US$163.4 million - Further strengthening of the Balance Sheet to US$144.3 million in cash Targets for Q2 and 2012: - Connection of one further gas condensate well (Well #218) to continue bringing GTF to full design capacity in Q2 - Connection of two crude oil wells (Wells #116 and #67) to bring crude oil production above 7,500 boepd in Q2 - Drilling of 11 new wells in the course of 2012 ends The press release full version is available on KASE website at: - http://www.kase.kz/files/emitters/ZHMN/zhmn_reliz_230512.pdf - in Russian; - http://www.kase.kz/files/emitters/ZHMN/zhmn_reliz_230512_e.pdf - in English. [2012-05-23]