/KASE, April 7, 2022/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated April 6, 2022:
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, announces that following an identification
of an error which came to light during its ongoing 2021 financial statements
audit process, it intends to make a further US$40 million asset impairment
charge in its prior year 2020 financial statements, increasing the
impairment charge from US$245 million to US$285 million for the year ended 31
December 2020. The Company notes that its current intention, subject to
completion of the audit, is to reverse all of this increased impairment in the
2021 financial statements due to the significant improvement in hydrocarbon
pricing at the end of 2021 versus prices at the end of 2020. The Company
confirms the above restatement has no impact on the Group’s cash position.
The Company will publish its full year financial results for the twelve months
ended 31 December 2021, together with publication of the 2021 Annual Report, on
Tuesday 26 April 2022.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_060422.pdf – in Russian;
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_relizs_060422_en.pdf – in
English.
[2022-04-07]