NOSTRUM OIL & GAS PLC announces 1H 2021 financial results

17.08.21 17:01
/KASE, August 17, 2021/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with a press release dated August 17, 2021, which states the following 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 2021. Highlights: Financial - Revenues of US$92.3 million (H1 2020: US$92.6 million). Average Brent price in H1 2021 of US$65.2 (H1 2020: US$40.0). - Net operating cashflows of US$46.3 million (H1 2020: US$47.0 million). - EBITDA of US$52.8 million (H1 2020: US$38.7 million). - EBITDA margin of 57.2% (H1 2020: 41.8%). - Closing cash for the period of US$108.1 million (December 31, 2020: US$93.9 million). Cash excludes US$21.5 million held in a secure account under the terms of the Forbearance Agreements. - We continue to accrue interest on the 2022 and 2025 loan notes, but no interest has been paid on the loan notes since February 2020 (see Bond Restructuring, below). - Continued focus on cost optimization to help manage the Company’s liquidity The full version of the press release is posted on KASE website at [2021-08-17]