/KASE, August 23, 2023/ – Zhaikmunai LLP (Oral), whose bonds are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated August 22, 2023:
quote
Zhaikmunai LLP, a subsidiary of Nostrum Oil & Gas PLC (“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 Nostrum’s financial results in
respect of the second quarter and six months ended 30 June 2023.
Financial Results for the second quarter and six months ended 30 June
2023:
- Revenues of US$52.8m (H1 2022: US$107.8m) against average realised Brent
oil price of US$79.9/bbl (H1 2022: US$104.7/bbl). Decrease in revenues
compared to H1 2022 resulted from declining production and relatively lower
average product prices.
- EBITDA1 of US$15.5m (H1 2022: US$68.8m) with EBITDA1 margin of 29.4%
(H1 2022: 63.8%).
- The Group’s unrestricted cash position as at 30 June 2023 was US$192m (31
March 2023: US$191m). Restricted cash balance was US$16.3m as at 30 June
2023 (31 March 2023: US$22.6m), which decreased due to US$6.2m interests
payments for the period from 9 February 2023 to 29 June 2023, and was
replenished subsequently to cover the next two interest payments. The next
semi-annual cash interest payment is scheduled for December 2023.
- Pursuant to the terms of the Restructuring, the interest accrued on the SSNs
and the SUNs from 1 January 2022. Accordingly, cash interest accrued to 9
February 2023 in the amount of US$17.5 million was paid in cash to the
Noteholders upon the issuance of the SSNs and the SUNs.
- The Group continues to focus on cost optimisation to help manage liquidity.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/ZHMN/zhmn_relizs_220823.pdf – in Russian;
-
https://kase.kz/files/emitters/ZHMN/zhmn_reliz_220823_en.pdf – in English.
[2023-08-23]