Zhaikmunai announces operating Q1 2020 results of NOSTRUM OIL & GAS PLC

30.04.20, 18:00
/KASE, April 30, 2020/ – Zhaikmunai (Oral), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of April 30, 2020: 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 three-month period ending 31 March 2020. This update is being issued in advance of the release of Nostrum's consolidated accounts for the same period. The information contained in this update remains subject to review by the Company’s independent auditors. Highlights: Operational - Q1 2020 average production after treatment of 24,006 boepd and average sales volumes of 22,903 boepd - Drilling halted for 2020. Workover activity to support production levels continuing. - Continuing focus on monetizing spare capacity by processing third party volumes - Actions taken to protect the safety of the staff and mitigate any impact of COVID 19 on operations. Financial - Q1 2020 revenues expected to be in excess of US$60 million (Q1 2019: US$95.4 million) - Q1 2020 cash position in excess of US$66 million (FY 2019: US$93.9 million) - Total debt expected not to exceed US$1,117 million and net debt expected not to exceed approximately US$1,051 million as at 31 March 2020 unquote The complete press release is available on KASE website: - https://kase.kz/files/emitters/ZHMN/zhmn_reliz_300420_2.pdf – in Russian; - https://kase.kz/files/emitters/ZHMN/zhmn_reliz_300420_eng_2.pdf – in English. [2020-04-30]