Zhaikmunai announces financial results of NOSTRUM OIL & GAS PLC operations over nine months ending September 30, 2019

29.10.19, 15:07
/KASE, October 29, 2019/ – Zhaikmunai (Oral), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of October 29, 2019: quote Zhaikmunai LLP, a subsidiary of Nostrum Oil & Gas PLC ("Nostrum" or "the Company" and together with its subsidiaries "the Group") an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces Nostrum's operational update in respect of the nine-month period ending 30 September 2019. This update is being issued in advance of the release of Nostrum's consolidated accounts for the same period. Highlights: Operational - GTU3 technical commissioning complete - Wells 42 & 41 tested without commercial flows of hydrocarbons - Well 361 drilling complete and testing commenced - 9M 2019 average production after treatment of 28,877 boepd - 9M 2019 average sales volumes of 27,515 boepd - Schlumberger and PM Lucas reports delivered to the Company - Extended licences for the Rostoshinskoye and the Chinarevskoye fields Financial - Revenues expected to be in excess of US$250 million (9M 2018: US$311.4 million) - Cash position in excess of US$91 million (H1 2019: US$120.8 million) - Total debt expected not to exceed US$1,113 million and net debt expected not to exceed approximately US$1,022 million as at 30 September 2019 unquote The full press release is available on KASE website: - http://kase.kz/files/emitters/ZHMN/zhmn_reliz_291019_1.pdf – in Russian; - http://kase.kz/files/emitters/ZHMN/zhmn_reliz_291019_eng_1.pdf – in English. [2019-10-29]