Results of Shakharmunaigas OJSC (Kazakhstan) in 2000

/KASE, May 15, 01/ - SHAKHARMUNAIGAS OJSC (Almaty) provided the KASE with its financial statements for 2000: balance sheet, income and cash flows statements. By the data of the issuer following are the results of the company in 2000 (in th. KZT unless otherwise specified): ------------------------------------------------------------------ As of As of Change, Ratio Jan.1 '00 Jan.1 '01 % ---------------------------------- --------- ---------- ------- Authorized capital 1,200 3,625 +202.1 Total assets 1,627,815 1,602,851 -1.5 Shareholder's equity 1,602,566 1,595,975 -0.4 Net working capital 1,598,968 1,593,741 -0.3 Accounts receivable 1,607,007 1,594,628 -0.8 Accounts payable 25,249 6,876 -72.8 Sales (services offered) 70,087 15,476 -77.9 Cost of goods sold 37,538 8,621 -77.0 Net income (loss) 1,601,803 (3,370) -100.2 ---------------------------------- --------- ---------- ------- Calculated based on issuer's data: ---------------------------------- --------- ---------- ------- Return on sale (ROS), % 46.44 44.30 -4.6 Return on equity (ROE), % 99.95 - - Return on assets (ROA), % 98.40 - - ------------------------------------------------------------------ Compared to 1999 the company experienced decline of (all date are given in tenge unless otherwise indicated): - shareholders' equity of the company - 6.6 mln (due to decrease in final amount of undistributed income by 9.9 bln and increase of authorized capital by 2.4 mln because of reorganization and registration of a new emission); - assets fell by 25.0 mln (as of Jan.01, 01 the receivables amounted to 1,594.6 mln, or 99.5% of total assets, of which 794.4 mln is financial assistance to other companies according to agreement on joint activity); - liabilities declined by 18.4 mln as a result of decline of accounts payable; - sales - 54.6 mln; - cost of goods sold - 28.9 mln. Net loss, received by SHAKHARMUNAIGAS OJSC in 2000, equaled 3.4 mln, against 1,596 mln of profit by results of 1999. This amount was received as a result of sale of associated company's shares (Munaigas OJSC). The payment was made through bill of exchange. Registered coupon bonds of SHAKHARMUNAIGAS OJSC were admitted into category "A" of the official listing on Jan.19, 2001 (KZ75KASICA50, SMGZb1, $100; $30.0 mln; Jan.18, 01-Jan.18, 06, semiannual coupon - 13.0%). The decision of the Exchange Council dated Apr.02, 2001 suspended trades over bonds. The reason is information received by KASE related to activity of the issuer and its affiliated parties. So far, the trades have not been resumed due to absence of definitive act of the prosecutors inspection. This inspection was initiated by SHAKHARMUNAIGAS OJSC. There is no yet market evaluation of bonds' yields. Primary activities of the company: exploration, extraction and sale of hydrocarbons and oil products; building and exploitation of gas stations and hydrocarbons and oil products storage facilities.