/KASE, October 8, 2020/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following communiqué dated October 8, 2020:
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 the disposal of its rights
and obligations under the subsoil use contracts for both the Darinskoye and
Yuzhno-Gremyachenskoye fields.
The exploration periods under the contracts for both fields are due to expire on
December 31, 2021 and the Company decided that disposal of its interest in the
fields was the most cost-effective option for the Company. Reserves of 5 million
barrels of oil equivalent in respect of the Darinskoye field were reclassified
from probable reserves to contingent resources as at December 31, 2019. No reserves
are attributed to the Yuzhno-Gremyachenskoye field.
The Company will continue to review its options in relation to the exploration
period under the subsoil use contract for the Rostoshinskoye field, which is not
due to expire until August 16, 2022. Further announcements may be made regarding
such subsoil use contract when appropriate.
unquote
Full version of the press release is available at:
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_081020.pdf – in Russian;
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_081020_en.pdf – in English.
[2020-10-08]