/KASE, October 22, 02/ - Mangistaumunaigas OJSC (Aktau), whose shares are circulating under stock exchange's official "В" listing category, presented KASE auditor's report of Ernst & Young, which had been made on combined financial statement of the Group for 2001, which is controlled by Central Asia Petroleum Ltd (Jakarta, Indonesia), which comprises Mangistaumunaigas OJSC.

The Group's combined financial statement comprises consolidated financial statement of Mangistaumunaigas OJSC and consolidated financial statement of Helios LLP.

According to the auditor's data the following indicators are the result of the combined financial and economic activity of the Group as of December 31 of 2001 (in th. US dollars, unless otherwise specified):

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                                                                 As of
Indicator                                              December 31, 01
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Authorized capital                                             111,645
Shareholders' equity                                           471,792
Total assets                                                   768,964
Net working capital                                            -63,588
Accounts receivable                                             92,725
Total liabilities                                              277,106
Accounts payable                                               259,221
Sales volume (services)                                        647,427
Expenses                                                       509,681
Net income                                                      95,291
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It's been calculated according to the auditor's data:
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Return on equity (ROE), %                                        20.20
Return on assets (ROA), %                                        12.39
Book value of one share, US dollars                              43.32
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Auditing of the Group's combined financial statement was conducted by Ernst & Yong in compliance with international auditing standards.

The consolidated financial statement of Mangistaumunaigas OJSC comprises financial statements of Mangistaumunaigas OJSC and 14 companies entirely belonging to it: Arai LLP (transport services), Burgishi LLP (drilling services), Buzachinskiy technologicheskiy transport (transport services), Densaulik LLP (sanitary services), Khimremontskvazhin LLP (chemical repairs), Mangistauenergomunai LLP (repairs of electronic equipment), Mangistaumunaizholdary LLP (road building), Mangistau technologichaskiy transport LLP (transport services), Mangistaumunara LLP (oil-rig repairs), Munaitelecom LLP (communication services), Neftestroi LLP (building), Shegendeu LLP (oil well cementation), Zhetibai technologicheskiy transport (transport services), Novoye pokoleniye LLP (publishing) and Pavlodar petroleum chemical plant CJSC, where Mangistaumunaigas OJSC possesses 51% of shares.

Consolidated financial statement of Helios LLP (Almaty, combustive-lubricating materials sale) comprises financial statements of subsidiary companies: Vertex Dostar CJSC (market share in the authorized capital is 100%) and Aksai LLP (100%).

In the auditor's opinion the combined financial statement, excluding influence of possible corrections, which could be made for right presenting of oil and gas property and corresponding exhaustion, for sure and in all significant aspects reflects the Group's combined situation as of December 31 of 2001, and also results of its activity and cash flow for the year, which ended by the mentioned date in compliance with the generally accepted accounting principles of the U.S.A.

The company's primary activities: production and transportation of oil and gas;
petroleum refining, ale of oil and products of its refining; exploration and development of oil and gas fields.

[2002-10-22]