Audited financial statements of Karazhanbasmunai OJSC (Kazakhstan) for 2001

/KASE, August 09, 02/ - Karazhanbasmunai OJSC (Aktau), whose bonds are circulating under stock exchange's "A" listing category, presented KASE the audit report of Arthur Andersen (Kazakhstan), which had been made on the company's financial statement for 2001. According to audited financial statement the results of the company's economic activity by December 31, 2001 are as follows (in th. KZT, unless otherwise indicated): ------------------------------------------------------------------- Indicator 2000 2001 --------------------------------------------- ---------- ---------- Authorized capital (minus repurchased stocks) 2,161,102 2,161,062 Shareholders' equity 4,139,602 9,785,432 Total assets 12,075,341 31,339,916 Net working capital 641,808 -506,893 Accounts receivable, net 3,040,004 5,101,075 Total liabilities 7,935,740 21,554,484 Loans attracted 3,827,060 12,186,532 Accounts payable 2,993,406 5,951,840 Bonds outstanding 897,995 3,004,000 Sales volume 16,450,017 17,584,246 Cost of goods sold 3,180,734 5,109,979 Net income 4,684,061 3,942,826 ------------------------------------------------------------------- According to the auditor's data it's been calculated: ------------------------------------------------------------------- Return on sales (ROS), % 80.66 70.94 Return on equity (ROE), % 113.15 40.29 Return on assets (ROA), % 38.79 12.58 ------------------------------------------------------------------- The audit of financial statements of the company, prepared according Kazakhstan accounting standards, was conducted by Arthur Andersen in accordance with Kazakhstan and international auditing standards. In the auditor's opinion, in all essential aspects reflects company's financial situation by December 31, 2001, and results of its activity, cash flow and capital for the past year in compliance with the rules of Kazakhstan accounting standards. Principal activity of the company - development of oil field Karazhanbas; extraction, treating, commissioning and processing of oil; introduction of thermal methods of oil recovery growth; construction of facilities and building of wells; refinement and processing of crude oil, construction of objects for oil treating; export; marketing and realization of hydrocarbons and hydrocarbon products. [2002-08-09]