NOSTRUM OIL & GAS PLC announces financial results for Q1 2020

19.05.20, 16:02
/KASE, May 19, 2020/ – NOSTRUM OIL & GAS PLC (London), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided the KASE with press release dated May 19, 2020, which states as follows: 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 financial results in respect of the three-month period ending 31 March 2020. Highlights: Financial: - Revenue of US$60.4 million (Q1 2019: US$95.4 million) - Net operating cash flows[1] of US$29.2 million (Q1 2019: US$42.2 million) - EBITDA[2] of US$31.7 million (Q1 2019: US$58.7 million) - EBITDA margin of 52.5% (Q1 2019: 61.5%) - Closing cash[3] for the period of US$66.1 million (FY 2019: US$93.9 million) - Total debt of US$1,116.4 million and net debt of US$1,050.3 million as at 31 March 2020 Operational: - Q1 2020 average production 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 health and safety of personnel and to mitigate any impact of COVID 19 on operations. - 46 wells in production (21 oil wells and 25 gas-condensate wells) as at 31 March 2020 unquote Full version of the press release is posted on the KASE website: - – in Russian; - – in English. [2020-05-19]