Results of SHAKHARMUNAIGAS OJSC (Kazakhstan) in 6 months of 2001

/KASE, Aug 14, 01/ - SHAKHARMUNAIGAS OJSC (Almaty) provided the KASE with its financial statements for the I half of 2001: balance sheet and income statement. By the data of the issuer following are the results of the company in the I half of 2001 (in th. KZT unless otherwise specified): --------------------------------------------------------- As of As of Change, Ratio July 1 '00 July 1 '01 % ------------------------ ---------- ----------- --------- Authorized capital 1,200 3,625 +202.1 Total assets 1,598,397 1,859,394 +16.3 Shareholders' equity 1,596,147 1,595,975 -0.01 Net working capital 1,593,750 1,859,038 +16.6 Accounts receivable 1,596,000 1,151,804 -27.8 Accounts payable 2,250 263,419 +11,608.6 Sales (services offered) 15,476 - - Cost of goods sold 8,621 - - Net income (loss) (773) - - --------------------------------------------------------- Compared to similar period of 2000: - shareholders' equity of the company decreased by KZT0.2m, or by 0.01% as a result of a decrease in final amount of undistributed income by KZT2.6m with an increase in authorized capital (due to re-registration of the issuer into a joint stock company in November 2000) by KZT2.4m; - assets increased by KZT261.0m, or 16.3% as a result of an increase in current accounts receivable by KZT1.0bn, short-term financial investments - by KZT403.2m, expenses of future periods - by KZT304.0m with a decrease in other current assets by KZT1.5bn and residual values of fixed assets - by KZT2.0m; - liabilities increased by KZT261.2m, or 117 times as a result of a growth in long-term liabilities by KZT263.4m (floatation of issued bonds); Based on the income statement in 6 months of this year SHAKHARMUNAIGAS OJSC did not conduct any activities. 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. On January 19, 2001 inscribed coupon bonds (KZ75KASICA50, trade code SMGZb1) of SHAKHARMUNAIGAS OJSC were admitted to the official list of the KASE under category "A".