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

29.10.19, 15:14
/KASE, October 29, 2019/ – NOSTRUM OIL & GAS PLC (London), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of October 29, 2019: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its 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: - – in Russian; - – in English. [2019-10-29]