Results SHAKHARMUNAIGAS OJSC (Kazakhstan) in first quarter of 2001

/KASE, June 29, 01/ - SHAKHARMUNAIGAS OJSC (Almaty) provided the KASE with its financial statements for the first quarter of 2001: balance sheet and income statement. Following are the results of the company in the first quarter of 2001 by the data of the issuer (in th. KZT, unless otherwise indicated): --------------------------------------------------- As of As of Change, Ratio Apr.1 '00 Apr.1 '01 % -------------------- --------- --------- ------- Authorized capital 1,200 3,625 +202.1 Total assets 1,630,345 1,777,799 +9.0 Shareholders' equity 1,602,884 1,595,975 -0.4 Net working capital 1,599,307 1,747,703 +9.3 Accounts receivable 1,613,999 1,584,911 -1.8 Accounts payable 27,440 909 -96.7 Sales 12,923 - - Cost of goods sold 7,751 - - Net income (loss) 318 - - --------------------------------------------------- Compared to similar period of 2000 (all figures are given in tenge, unless otherwise indicated): - shareholders' equity of the company decreased by 6.9m, or 0.4% as a result of a decline in final amount of undistributed income by 9.3m, with an increase in authorized capital (due to a re-registration into an open joint stock company) by 2.4m; - assets increased by 147.5m, or 9.2% as a result of an increase in the expenses of future periods by 192.4m, with a decrease in accounts receivable by 29.1m, (other accounts receivable of the company as of Apr 1, 01 was 1,469.1m, or 82.6% of the assets), residual value of fixed assets (71.0 th.) - by 3.5m, cash and short-term investments - by 12.1m, inventory - by 259.0 th.; - liabilities increased by 154.4m, or 5.6 times due to an attraction of funds for 180.9m, with a decline in accounts payable by 26.5m. Based on income statement as of Apr 1, 01, SHAKHARMUNAIGAS OJSC did not conduct any activities in the first quarter of 2001. Primary activities of the company: exploration, development, extraction and sales of hydrocarbons, oil products; transportation, processing, exports and imports of hydrocarbons, oil products; construction and exploitation of the warehouses for hydrocarbons, oil products, gas stations. Inscribed coupon bonds (KZ75KASICA50, trade code SMGZb1) of SHAKHARMUNAIGAS OJSC were admitted into the official list of the KASE securities under category "A" on January 19, 2001.