NOSTRUM OIL & GAS PLC announces Q1 2022 financial results

24.05.22 17:57
/KASE, May 24, 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 May 24, 2022: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together with its subsidiaries, the "Group"), 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 months ended 31 March 2022. Nostrum's management team will present the Q1 2022 Results and will be available for a Q&A session with analysts and investors today, 24 May 2022, at 2pm UK time. If you would like to participate in this call, please register by clicking on the following link and following instructions: Call Q1 2022 Highlights: Financial - Revenues of US$60.2m (Q1 2021: US$46.2m) against average realised Brent oil price of US$97.9/bbl (Q1 2021: US$61.8/bbl). - EBITDA1 of US$40.5m (Q1 2021: US$26.8m) with EBITDA1 margin of 67.3% (Q1 2022: 58.0%). - Closing unrestricted cash as at 31 March 2022 of US$180.8m (31 December 2021: US$165.2m). US$22.7m remains held in a restricted account as at 31 March 2022. - Continued focus on cost optimisation to help manage our liquidity. - Notes restructuring update: shareholders approved the restructuring resolution at the General Meeting convened on 29 April 2022 with 99.99% of voting shareholders voting in favour of the terms agreed between the Group and its noteholders (RNS). Scheme of Arrangement pursuant to a restructuring launched on 11 May 2022 via the issuance of a Practice Statement Letter to noteholders (RNS). unquote Tw full press release is available on: - – in Russian; - – in English. [2022-05-24]