/KASE, August 18, 2020/ – NOSTRUM OIL & GAS PLC (London), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided the KASE with
press release dated August 18, 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 six-month period ending 30 June 2020.
Highlights:
Financial:
- Revenues of US$92.6 million (H1 2019: US$174.2 million). Average Brent price
achieved in H1 2020 US$40.0 (H1 2019: US$66.2).
- Net operating cashflows1 of US$47.0 million (H1 2019: US$116.9 million).
- EBITDA2 of US$38.7 million (H1 2019: US$110.2 million).
- EBITDA margin on 41.8% (H1 2019: 63.3%).
- Closing cash3 for the period of US$75.7 million (December 31, 2020: US$93.9
million).
- Total debt4 at 30 June 2020 of US$1,139.7 million, including accrued interest
of US$35.6 million. Net debt of US$1,063.9 million at 30 June 2020.
- Continued focus on cost optimization to help manage the Company’s liquidity.
Operational:
- H1 2020 average production after treatment 23,528 boepd with average sales
volumes for the period of 22,624 boepd.
- As previously reported, drilling halted for 2020. However, successful workover
and well intervention activity has reduced the expected rate of decline of
production.
- Continuing focus on monetizing spare capacity by processing third party volumes.
- Actions continue to be taken to protect the safety of all staff and mitigate
any impact of COVID 19 on operations. In particular, stringent testing and
follow-up procedures are in place for all field personnel.
unquote
Full version of the press release is posted on the KASE website –
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_180820_1.pdf
[2020-08-18]