/KASE, November 21, 2023/ – Zhaikmunai LLP (Oral), whose bonds are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated November 21, 2023:
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 for the third quarter and nine
months ended 30 September 2023 (the "Results").
Nostrum management will present the Results and be available for a Q&A session
with analysts and investors today, 21 November 2023, 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 conference on the result of the
period under review
9M 2023 Highlights:
- Revenue of US$88.8m (9M 2022: US$155.6m), a 43% decrease reflecting
production decline in line with management expectations and relatively lower
average product prices (average Brent oil price of US$81.9/bbl for 9M 2023
vs US$102.5/bbl for 9M 2022).
- EBITDA1 of US$33.0m (9M 2022: US$94.9m) and an EBITDA margin of
37.1% (9M 2022: 61.0%), both decreasing as a result of lower revenues and
a largely fixed operating cost base.
- The Group's unrestricted cash balance as at 30 September 2023 was
US$171.7m (30 June 2023: US$192.0m), the quarterly reduction due
primarily to the US$19.3m acquisition payment for the Company's 80%
interest in Positive Invest LLP. The Group's restricted cash balance as at 30
September 2023 was US$24.6m (30 June 2023: US$16.3m).
- While the Group is focused on future growth opportunities to fill the spare
capacity of its gas processing infrastructure, the management also continues
to focus on cost optimisation to help maintain its liquidity and cash
The complete press release is available on –