/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:

• see more – in Russian;
• see more – in English.

[2020-05-19]